Since JAY-Z’s NFL’s partnership announcement there has been a lot of confusion surrounding the details. CBS Sports has now reported that insiders close to the situation shut down rumors that Hov will actually become the NFL’s newest owner.
As soon as it was announced that he would be the NFL’s new live music entertainment strategist, the world started scrambling to dissect the cultural impact of the partnership. Shortly after the news broke, it was reported by TMZ that JAY-Z’s partnership will make him the part-owner of an unnamed franchise. However sources closer to the league told CBS Sports that there is absolutely “no plans in place” for Jigga to become an owner. It was also reported by CBS Sports’ that Roc Nation insiders and the NFL are trying to figure out who leaked out this false information in the first place.
This is not the first time Hov took a stab at sports ownership. Back in 2004, JAY-Z bought a $1 million share of the Brooklyn Nets, and became the spokesperson of the struggling franchise as they made the move from New Jersey to the borough.
Currently there is no avenue for JAY-Z to draft up a similar play in the NFL.
An insider via CBS Sports:
“Those kinds of deals don’t exist in the NFL.”
The insider goes on to tell CBS Sports that there’s a strict “vetting process” to become an NFL owner. “There is no ownership component to this arrangement.”
Some call Hov a sellout, some say he’s a capitalist, but what we can call him is a great business man!
What’s your 2 cents?!