Entertainers Jay-Z and Beyonce watch Brooklyn Nets play New York Knicks in NBA game in New York

Jay-Z makes reports official: “My job as an owner is over”

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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.

Nets’ Greivis Vasquez pulls out of Olympics for Venezuela

DENVER, CO - NOVEMBER 11:  Greivis Vasquez #21 of the Milwaukee Bucks takes the court against the Denver Nuggets at Pepsi Center on November 11, 2015 in Denver, Colorado. The Nuggets defeated the Bucks 103-102. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Doug Pensinger/Getty Images)
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Venezuela is in its first Olympic basketball tournament in more than 20 years — they upset Canada and Argentina to win the FIBA Americas tournament last summer and earned the right to go to Rio.

But they are going to have to play there without the one NBA player on their roster. Greivis Vasquez, who had ankle surgery last December, announced he had to pull out, via the Nets.

If you want to know what this means for the Venezuelan team heading into Rio, well, they shot just 23.9 percent in an 80-45 loss to Team USA Friday night in Chicago — and that was by far the USA’s worst performance in the exhibition run-up to the Rio Games.

Vasquez should be getting decent minutes off the bench behind Jeremy Lin in Brooklyn this season. They need him healthy as the team tries to move from “god awful” to just plain “not good” next season.

Report: Monty Williams to accept role on Spurs coaching staff next season

LAS VEGAS, NV - JULY 18:  Draymond Green #14 of the 2016 USA Basketball Men's National Team drives against assistant coach Monty Williams of the 2016 USA Basketball Men's National Team during a practice session at the Mendenhall Center on July 18, 2016 in Las Vegas, Nevada.  (Photo by Ethan Miller/Getty Images)
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Another smart move by the Spurs.

Monty Williams is one of the better assistant coaches in the NBA right now, and he was available (remember he understandably left Oklahoma City last season after the tragic death of his wife). He’s part of Mike Krzyzewski’s staff with USA Basketball this summer — watch him in practices at age 44 and he’s a better defender plenty of players in the league — and he wanted to get back on the bench.

San Antonio has snapped him up, reports Marc Stein of ESPN.

Sources told ESPN that Williams — who left the Oklahoma City Thunder’s bench in February after the tragic death of his wife, Ingrid — has been urged by Spurs coach Gregg Popovich to take as much of a role with the organization as he feels comfortable for the 2016-17 campaign.

The specifics of what role Williams would fill and how much time he could commit have not yet been determined, but sources say San Antonio has opened the door to either a coaching and player-development role or a front-office position (or a hybrid), depending on what he prefers.

One source close to Williams told ESPN that the 44-year-old “absolutely” intends to be a head coach in the league again after his expected stint with the Spurs. The source also said numerous teams, including Oklahoma City, have made similar offers to Williams for next season.

Williams will get another shot in the big chair down the line. In the short term, this is a smart move — nothing looks better on a resume than “Spurs” around the league right now.

Team USA has sing-along on plane leaving Chicago. Well, except for ‘Melo.

OAKLAND, CA - JULY 26:  Carmelo Anthony #15 of the United States Men's National Team looks on during player intro duction prior to playing the China Men's National Team in a USA Basketball showcase exhibition game at ORACLE Arena on July 26, 2016 in Oakland, California.  (Photo by Thearon W. Henderson/Getty Images)
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Team USA had their “Tiny Dancer” moment.

Like “Stillwater” in Almost Famous, Team USA’s Jimmy Butler, Draymond Green and Kyrie Irving were leading a sing-along of Vanessa Carlton’s “A Thousand Miles” on the team plane out of Chicago to Houston for the USA’s final exhibition game. Hat tip Alysha Tsuji who pulled the snapchats.

Everyone was loving it… except for Carmelo Anthony, according to DeMar DeRozan.

Melo ain't having it…😂

A video posted by DeMar DeRozan (@demar_derozan) on

Watch Kyle Lowry’s tip-pass alley-oop to Jimmy Butler in USA win

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There were a lot of ugly things for Team USA in its exhibition win over Venezuela — the 4-of-25 shooting from three comes to mind. There was more, it was not a strong offensive performance from Team USA.

But like usual, we can overwhelm teams with athleticism, and that means wins and highlights. Like Kyle Lowry‘s tip-pass alley-oop to Jimmy Butler.

Or DeMar DeRozan‘s late-game windmill dunk.