According to reports, Jay-Z’s attempt to buy the New Jersey Nets is nearly official. Real estate developer Bruce Ratner, who is leading Jay’s investment group, is near an agreement to purchase the NBA franchise for $300 million.
There is more to it though. In the event that they get the team, the plan is to return them to New York (where they started as part of the ABA). Not coincidentally, to Jay’s borough. Plans are to build a 19,000 seat stadium in Brooklyn to house the team. Nothing has been signed yet, so don’t get too excited.
