It was a long long journey to get here. We started off in 2003. What’s up Bruce… Bruce [Ratner] came to meet me in the 40/40… -Jay-Z
However, at some point Bruce Ratner realized he’d run out of money and needed to bring in an outside investor to give him the cash he needed in order to keep not paying taxes on the land. He brought in Mikhail Prokhorov, one of the richest men in Russia and a noted sports/prostitute enthusiast, in to bail him out. Prokhorov bought a controlling share of the Nets, and Ratner had the money to continue building the Barclays Center—but not, it turned out, the housing and office developments he wanted. So the team—which was once a sideshow—became the main attraction.
Prokhorov got a team, Ratner kept the arena, but Jay-Z got the credit, which is the most important thing. He benefits from being able to pretend to own the Nets in some pretty obvious ways. Namely, it perpetuates the myth that he’s hip-hop’s greatest businessman.
Read the full article here.
Listen to Jay-Z’s personal message and freestyle at the Barclays Center below:
video courtesy of Nigel D