Is Jay Z selling his stake in Barclays Center?

theGRIO REPORTS - Reports are saying Jay Z is planning to sell his stake in the Barclays Center (the BK Nets arena).

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Rapper Jay Z was required to sell his stake in the Brooklyn Nets in order to embark on a career at his new sports agency, Roc Nation Sports, and now he is also reportedly planning to sell his stake in the Barclays Center as well.

Jay Z is said to have sold his portion of the Nets organization, one-fifteenth of 1 percent, to Jason Kidd, former Nets player and current head coach.

The one-fifth of 1 percent that Jay Z owns of the Barclays Center is worth about $1.5 million, according to Forbes.

Forbes also suggests the music mogul could get even more, due to the success of the new arena so far.

However, Roc Nation is disputing the story. On their Twitter account they posted a photo of the article with the hashtag “#NOTFACTSONLY” in red over top.

It is still unclear what aspect of the story the tweet is attempting to debunk.

Follow Carrie Healey on Twitter @CarrieHeals

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