Jay-Z is out.
We brought you the report a couple weeks ago that rapper/mogul Jay-Z was selling his sliver of a share of the Brooklyn Nets so he could get into the player agent game. (Jay-Z owns less than one percent of the Nets.)
He seemed to confirm the sale in a song “Open Letter” that dropped a few days after reports surfaced he was selling.
“I would have brought the Nets to Brooklyn for free, except I made millions off of you [expletive] dweebs. I still own the building, I’m still keeping my seats. If you buy that [expletive], you better keep your receipts.”
But in a statement on Lifeandtimes.com, Jay-Z made it official that he is out of the ownership business.
Being a member of the Nets organization surpassed some of my greatest ambitions. It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun. I’m a Brooklyn Net forever. It’s been an honor to work with Mikhail Prokhorov, Dmitry Razumov, Christophe Charlier, ONEXIM Sports and Entertainment, Brett Yormark and all the wonderful people involved in making the Nets first class. My sincerest thanks goes to Bruce Ratner, who first introduced the idea of moving the Nets to Brooklyn. A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team.
The Nets have made their mark on the NBA and as they enter a new era, Roc Nation does as well; as we embark on Roc Nation Sports. Our newest endeavor is committed to building the brands of professional athletes as we have done for some of today’s top music artists. For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it’s not about ownership. Congratulations to The Nets on a great season and making the playoffs! I will always be a Brooklyn Net.
Jay-Z had to get out because he wants to get into the player representative/agent business. He helped form to Roc Nation Sports, a partnership with powerhouse Creative Artists Agency where Jay-Z helps provide marketing to players. Robinson Cano of the Yankees is reportedly one of a handful of players already on board.
There are reports Reddit co-founder Alexis Ohanian wants to buy Jay-Z’s small share of the team.
In the last few years, NBA head coaching salaries have skyrocketed, and new Lakers coach Luke Walton is no exception. According to the Los Angeles Times‘ Mike Bresnahan, Walton is getting $25 million over five years, which is the same as Steve Kerr’s deal with the Warriors, now-former Knicks coach Derek Fisher’s deal in New York, and Fred Hoiberg’s deal with the Bulls.
This kind of money has become standard for head coaches who don’t also have front-office power. Tom Thibodeau and Stan Van Gundy both get between $7 and $8 million annually to do both jobs. Given how good Walton’s current situation with the Warriors is, the Lakers probably had to be on the high end of the coaching spectrum to get him to leave.
On Friday night, the Lakers announced that they’re hiring Luke Walton as their next head coach, effective as soon as the Warriors’ playoff run is over. It’s a good hire, but it’s especially interesting given Walton’s close relationship with Phil Jackson and the rumors that never seem to go away, that Jackson might be set up to return to the Lakers to run the team alongside fiancée Jeanie Buss after next season, when he has an opt-out in his contract with the Knicks.
But that doesn’t mean Walton will be running the triangle, as he said in his first comments to reporters since the news broke.
Via the Orange County Register‘s Bill Oram:
Regardless of whether Jackson eventually gets back in the picture in Los Angeles, Walton has been a successful assistant in Golden State and has the right temperament to lead the Lakers into the post-Kobe era.
Stephen Curry might be back sooner than expected. It’s been one week since he suffered the sprained MCL in his right knee that led the Warriors to rule him out for at least two weeks, but head coach Steve Kerr said Saturday that there’s at least an outside chance he could play Tuesday in Game 2 of Golden State’s second-round series against the Portland Trail Blazers.
Via ESPN.com’s Marc Stein:
Obviously, the smart money is on Curry not playing this early in his timetable. But the fact that it’s even on the table would seem to indicate that, barring a setback, he’ll be back for at least some of the series, which tips off Sunday.
Since Chris Paul withdrew from this summer’s Olympic team, Carmelo Anthony and LeBron James are the only players left from the 2008 team. If they played this summer in Rio de Janeiro, they would have the chance to be the only men’s basketball players ever to win three gold medals. But James is still undecided, and Anthony tells The Vertical‘s Michael Lee that he is also still weighing it:
USA Basketball has provided Anthony his only opportunity to win at a high level since he became a professional. Anthony sounded optimistic in March that his surgically repaired left knee wouldn’t prevent him from going after an unprecedented third gold medal. But since then, Chris Paul withdrew, citing the need for rest, and left Anthony and LeBron James as the only players from the 2008 team remaining in the Team USA selection pool. “It definitely would help,” Anthony said, if James decides to make one more run, but Anthony isn’t close to making a final decision.
“That’s at the top of the sport, of any sport. I think if you have the opportunity to do it, and enjoy it, and take advantage of it, I think you should do it. [The Olympics are] the throne for sports as a whole,” Anthony told The Vertical. “I’m going to take a little more time to think about it. I’m not in a rush. NBA season is still going on, so I’m going to see how I feel physically. Am I ready to take on – I don’t want to say burden, but – that load? If I’m ready, I’ll do it. If not, my body won’t lie to me.”
Anthony turns 32 next month—if he does play, it will undoubtedly be his final run with the national team. But his concerns about rest are valid, even though he was healthier this year than he was last season, when he had season-ending knee surgery. James’ decision will be even more interesting: he cares deeply about his place in history, but he’s had absolutely no time off since 2011, between five straight Finals runs (and likely a sixth) and the 2012 gold-medal run with the Olympic team.
If Anthony ultimately decides not to play, it would open up another spot for a forward, which could go to the likes of Draymond Green, Kawhi Leonard or Jimmy Butler. All of this is worth keeping an eye on as July’s training camp gets closer.