NEW YORK — Last week it was revealed that P. Diddy was looking into buying his own basketball team, but now Jay-Z has one-upped his fellow hip-hop mogul — he's actually making the move to do so.

Jay-Z has joined an investment group that has put in a bid for the NBA's New Jersey Nets. The investors, led by Brooklyn developer Bruce Ratner, intend to move the team from Newark, New Jersey, to the borough of Brooklyn, Jay-Z's hometown.

Ratner's group is considered to be the front-runner to buy the Nets from George Steinbrenner's YankeeNets company, with a bid estimated at $250 million. An announcement is expected by the All-Star break in February.

Dressed in a black suit with a white button-up shirt and no tie, Jay made his announcement at a press conference to unveil Ratner's plans for a downtown Brooklyn arena designed by famed architect Frank Gehry. New York Mayor Michael Bloomberg and Brooklyn-born basketball star Bernard King were also in attendance.

"I'm a Brooklyn kid who's in love with Brooklyn," Jay said. "[I'm] just happy to bring something back. That's my love."

It had been reported that Jay-Z retained an investment bank to explore the possibility of putting in a bid for the Nets (see "Jay-Z Looking To Purchase A Basketball Team"). But in recent weeks Jay has had a series of meetings with Ratner and his fellow investors, with both sides strategizing on how Jay's involvement could enhance their bid. Jay would not reveal how big of an investment he's making in Ratner's group. "I'm not going to tell you that," he laughed when asked.


tha kid just aint playing fair, and notice it says "front-runner" so tha shit will probably happen. M.O.P. can be the security, Memph Bleek and Dame run play by play, Just Blaze be the arena DJ,shit'll be dope

thats some ill shit that jigga's doin right there for his city.

yeah I heard about this on the radio....if his finances are striaght he could do it...

Lol new jersey is about to get shafted in another sport suck on our huge Giants/Jets dicks fools we jacked your damn stadium, gimme the nets biatch! 1luv.

Where they gonna play ?

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Trust me, it will not happen..

on the Freeway?

its not gonna happen, the nets are staying in NJ

^^^^hahaha werd....i highly doubt that the nets will move to Brooklyn. Plus where the fuk they gone find any space to even build a tiight stadium...fucking prospect park??? hahaha they can knock down the Brooklyn Museum or the Botanic Gardens lol.... yea rite!!!....i doubt that this shit will even happen.....but it would be tiight if a team did come to BRROK~NAM!!!!

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" So for the 2nd time [The Pharisses] summoned the man who had been blind and said
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ayo y-not to you use to post on rb a while ago under shine365 or something like that?

Lol, This Is HElla Old Ass News

I actually thought the same thing, but declined to post. Why the fuck did you just recently make the thread?!

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this child said hella old news. I posted this thread a minute ago. And Jay's team are the frontrunners to buy the nets, and all of them have said they want to move the nets to brooklyn, so why wouldn't it happen? Brooklyn got some space somewhere, fuck it let them bastards play on the hardtop.