Hov is still making sports moves — and is set to get paid! Jay Z has already sold his share in the Brooklyn Nets to Jason Kidd and now it’s time to unload his stake in the Barclays Center. So how much will he get?! Find out after the jump…
Jay-Z owns slightly less than one-fifth of one percent of the Barclay Center. New York City recently appraised the Barclays Center–based on its potential income–to be worth $741 million. That works out to about $1.5 million for Jay-Z’s stake.
But he could get even more, given the huge success of the arena. Through the first half of this year the Barclays Center was the top-grossing venue in America. And Forest City Enterprises, which owns 55% of the arena through its Nets Sports and Entertainment subsidiary, booked net operating income of $10.8 million for the arena through the first six months of 2013.