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Brooklyn Nets Sign Jalen Wilson to Multi-Year Contract

Rookie forward Jalen Wilson was selected in the second round of the 2023 NBA Draft and has been on a..

Ratner had purchased the team with the intent of moving it to a new arena in Brooklyn, which was to be a centerpiece of the large-scale Atlantic Yards development. Rapper Jay-Z owned a small minority stake in the Nets from 2003 until 2013.

They are a member of the Atlantic Division of the Eastern Conference in the National Basketball Association (NBA), as well as an original member of the American Basketball Association (ABA). In 2012, the team moved to Brooklyn and were renamed the Brooklyn Nets.

Among the ranks of Brooklyn Nets fans are a pair of iconic musicians. Jay-Z and Beyoncé are spotted regularly among the celebrities at Nets games. Both artists have even performed the national anthem multiple times as well.

The Brooklyn Nets changed their name from the New Jersey Nets in 2012 when they moved to Brooklyn, New York. The team's new owners wanted to give the team a fresh identity and connect it more with its new home.

By FORBES's estimates, the former stake is worth $350,000; the latter is worth $2 million. What seems most likely is that, in preparation for the launch of Roc Nation Sports, Jay-Z began converting equity in the team into a stake in the Barclays Center, which he'd still be allowed to own as an agent.

Share All sharing options for: In a way, Jay-Z finally gets to 'own' the Nets. Maybe Jay-Z will finally get to “own” the Nets. Jay-Z, aka Sean Carter, held a tiny piece of the Nets for 10 years, from 2003 till 2013 when he was forced to sell to avoid a potential conflict of interest as a player agent.

Specifically, the Nets are valued at $3.98 billion, up from the $3.2 billion the Tsais reportedly paid in 2019 and $3.5 billion estimated by Forbes a year ago. That puts them at No. 13 on the Sportico list.

1. Donovan Clingan, UConn. Donovan Clingan saw his stock skyrocket during the NCAA Tournament as he increased his minutes and provided UConn a dominant interior presence. However, the journey to becoming one of the top prospects in this class started well before March.

What is the NBA salary cap for 2024? ›

The league's latest projections for the 2024-25 salary cap held steady at $141 million, but the cap could climb above $200 million by the end of the decade. That should force teams, players and agents all to rethink how they structure contracts in the coming years.

The Nets, worth $3.85 billion according to Forbes' most recent valuation, lost a little bit of money during the 2022-23 season while the Barclays Center lost a lot of money. As the graphic below shows, the $5.8 billion valuation is an astronomical amount for a non-control stake in a professional sports team.

Jay Z's connection with the Brooklyn Nets can be traced back to 2003 when he became a minority owner of the team. At that time, the team was known as the New Jersey Nets, and Jay Z played a pivotal role in the rebranding of the team as they prepared to move to Brooklyn.

2023-24 Schedule32-50, 4th in Atlantic Division.

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Brooklyn Nets, American professional basketball team based in Brooklyn, New York, that plays in the Eastern Conference of the National Basketball Association (NBA). As a member of the American Basketball Association (ABA), the Nets won two championships (1974 and 1976).