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”


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.

Report: Pistons claim Beno Udrich off Miami’s waivers

MIAMI, FL - SEPTEMBER 26: A portrait of Beno Udrih #9 of the Miami Heat on September 26, 2016 in Miami, Florida. (Photo by Rob Foldy/Getty Images)
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Miami felt set at point guard with Goran Dragic starting and the up-and-coming Tyler Johnson as his backup. They decided veteran Beno Udrih wasn’t part of the future and waived him.

Detroit, looking for some help at the one until Reggie Jackson returns, saw a dependable veteran guard on the market. So they snapped him up, reports Shams Charnaria of The Vertical at Yahoo Sports.

At age 34 we are seeing Ulrich’s game start to slip. Still, he has valuable NBA skills as a point guard: he doesn’t turn the ball over, can run an offense, and if you ignore him coming off a pick he will bury the shot.

Jackson is expected to be out at least another six weeks after getting PRP therapy to deal with knee tendonitis (he hopes to be back sooner). That leaves Ish Smith as the starting point guard in the short term; Udrih will help provide solid depth at the position.

The Pistons need to keep their heads above water until Jackson can return.

NBA’s new Collective Bargaining Agreement could run to 2024

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The first 12 years of the NBA’s salary-cap era went without a lockout. The league again avoided a lockout for a dozen straight years between 1999 to 2011.

Now, with a new Collective Bargaining Agreement coming soon, the NBA is setting itself up for another 12 years of labor peace.

Adrian Wojnarowski of Yahoo Sports:

The NBA and National Basketball Players Association are working on a seven-year extension to the Collective Bargaining Agreement, with a mutual opt-out in six years, league sources told The Vertical.

The seven-year deal could potentially deliver the NBA labor peace through the 2023-24 season, unless the opt-outs are exercised in 2022, league sources told The Vertical.

The new CBA will begin with the 2017-18 season.

Expect an opt out after six years. By then, there’s usually something to renegotiate.

Hope for another quick resolution, like we’re getting now.

And if neither the owners nor players opt out, be pleasantly surprised at an unprecedented 13th straight year without a lockout in this era.

Rockets waive Gary Payton II and reportedly Tyler Ennis

TARRYTOWN, NEW YORK - AUGUST 07:  Gary Payton II #0 of the Houston Rockets poses for a portrait during the 2016 NBA Rookie Photoshoot at Madison Square Garden Training Center on August 7, 2016 in Tarrytown, New York. 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. Mandatory Copyright Notice: Copyright 2016 NBAE  (Photo by Nick Laham/Getty Images)
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The Rockets entered the day with five point guards with guaranteed salaries: James Harden, Patrick Beverley, Pablo Prigioni, Tyler Ennis and Gary Payton II.

That seemed like too many, but Houston had just 15 players – the regular-season roster limit – with guaranteed salaries. There didn’t seem to be urgency to drop a player with a guaranteed deal.

Yet, the Rockets will drop two.

Rockets release:

Houston Rockets General Manager Daryl Morey announced today that the team has waived guard/forward P.J. Hairston, forward Le’Bryan Nash, and guard Gary Payton II.

Shams Charania of Yahoo Sports:

Barring another move, this opens the door for Houston to keep Bobby Brown (whose biggest impact in the preseason was causing an international incident) and Kyle Wiltjer, a stretch big who went undrafted out of Gonzaga.

The Rockets come out behind in their trade for Ennis. They have could have just waived the player they dealt, a lower-paid Michael Beasley, and saved a little money.

Payton, undrafted out of Oregon State, is an intriguing project. But Brown is probably more capable of helping now, a bigger factor for that roster spot with Beverley injured.

Thunder waive Ronnie Price and Mitch McGary, keep Semaj Christon

2014 Oklahoma City Thunder Media Day
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The Thunder waived a former No. 21 pick who still had two years left on his rookie-scale contract and a 33-year-old journeyman.

The latter was the surprise.

Thunder release:

The Oklahoma City Thunder waived forwards Mitch McGary and Chris Wright along with guard Ronnie Price and center Kaleb Tarczewski, it was announced today by Executive Vice President and General Manager Sam Presti.

At this point, Oklahoma City waiving Mitch McGary was completely expected. Facing 15 games of drug suspension with no proven track record of NBA sustainability, McGary was an easy cut on a team with a roster crunch.

Price signed a fully guaranteed two-year contract worth nearly $5 million this offseason, and teams don’t generally waive players so soon after guaranteeing them multiple seasons (even if guaranteeing them multiple seasons was questionable in the first place). This opens the door not only for Semaj Christon to make the regular-season roster, but to serve as Russell Westbrook‘s primary backup at point guard with Cameron Payne injured.

Christon, the No. 55 pick in the 2014 draft, also signed this summer (with just a $200,000 guarantee). After leaving Xavier, he spent a year on the Thunder’s D-League affiliate then a year overseas. Perhaps, he’s ready for a regular role without the safety net of a veteran like Price behind him, but this sure seems like another case of Oklahoma City overrating its developmental system. See previously: Josh Huestis.