Jay-Z bid a formal farewell to the Nets Friday.
He sold his small share in the franchise, a necessary move so he could open his own sports agency.
In a statement, he said, "For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it’s not about ownership. Congratulations to The Nets on a great season and making the playoffs! I will always be a Brooklyn Net."