Jay Z will be selling his share of the Barclays Center very soon and will get a hefty price for it. The rapper owns slightly less than one-fifth of one percent of the Brooklyn, New York arena.
Forbes reports that the Roc Nation CEO will get $1.5 million once the sale is complete. That figure could actually increase based on the success the arena has had thus far.
Barklays is the home of the NBA's Brooklyn Nets. In addition it's getting close to pushing Madison Square Garden to the side as the number one arena in New York City for big boxing events and concerts. Within the past two months both Beyonce and Justin Bieber have performed there.
Through the first half of 2013, Barklays is the top grossing venue in America, making Jay Z's stake that much more valuable.
Jay has already sold his one-fifteenth of one percent ownership of the Nets to Jason Kidd for $500,000.
The sale of both shares will allow Jay to devote his full attention to his new company Roc Nation Sports. RNS already boasts Kevin Durant of the Oklahomo City Thunder, Robinson Cano of the New York Yankess, Geno Smith of the New York Jets, Victor Cruz of the New York Giants and Skylar Diggins of the Tulsa Shock as clients.
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