The 43-year-old 'Holy Grail' singer needed to sell his share after forming his own sports agency, Roc Nation, which began to sign up popular players leading to his two business ventures being deemed a conflict of interests, reported Contactmusic.
"Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him," a source said.
Jay Z first got involved with the Nets, previously known as the New Jersey Nets in 2003.
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