Posts Tagged ‘Jay-z’

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Is Beyonce getting into formation to buy a piece of the Houston Rockets?

The pop star is reportedly considering an investment in the team, sources told Bloomberg’s Scott Soshnick.

A native of Houston, Beyonce Knowles-Carter could offer community ties to whoever takes over as the Rockets’ controlling owner, now that longtime owner Leslie Alexander has decided to put the team up for sale.

Her husband, rapper Jay-Z, famously owned a small percentage of the Brooklyn Nets, playing a pivotal role in their relocation from New Jersey in 2012. He was forced to sell his stake in the team in 2013 in order for his upstart sports agency, Roc Nation Sports, to be allowed to represent NBA players, per league rules.

It’s unclear if his ownership of Roc Nation Sports could impact Beyonce’s ownership bid with the Rockets, but there’s a second ramification that stems from Jay-Z’s tenure as an owner: the colloquially named “Jay-Z rule.”

The league’s board of governors passed a rule several years ago mandating that each minority stakeholder in a team must own at least one percent, with no greater than 25 individuals in an ownership group altogether.

With team valuations skyrocketing since Steve Ballmer purchased the Los Angeles Clippers for $2 billion in 2014, that limits the potential for small-stake figurehead owners from owning a piece of a franchise.

Therefore, if Beyonce wants to be a minority owner of the Rockets, and Alexander angling for at least $2 billion for the team, the “Crazy in Love” singer would pony up at least $20 million for a one percent stake. Forbes valued Beyonce’s net worth at $350 million earlier this year, but even still, the economics of the league are very different from even four years ago.

There will be much to consider and red tape to navigate for Beyonce if she’s serious about joining the NBA family.

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Celebrities Attend The New Jersey Nets v New York Knicks Game - February 20, 2012

The Dallas Cowboys had several famous faces in the crowd for Sunday’s win over the Chicago Bears, including Beyonce and Jay-Z.

During his weekly radio appearance on 105.3 The Fan’s Shan and RJ show Tuesday, Cowboys owner Jerry Jones reminisced about the first time he and Beyonce met in 2004, when she performed with Destiny’s Child at halftime of the team’s Thanksgiving Day game.

“As a matter of fact, they were planning to perform and it was so cold you couldn’t stand it out there on Thanksgiving Day,” Jones said, according to theĀ Dallas Morning News. “And I got them all coats from Neiman Marcus. And to this day, one of the things that we kind of smile about are those jackets that we got them so that they could go out there and do a good job and give us Thanksgiving Day halftime. Boy, I’m telling you, she’s phenomenal.”

Jones then gushed about Jay-Z, describing the rapper as “one of the neatest people that I’ve met.”

“Make no mistake about it, he’s the real deal,” Jones said. “He’s as easy to be around, talk to, as sharp as anybody I’ve met. I see what she sees in him.”