JAY Z THE KNICKS A RUSSIAN BILLIONAIRE AND SDG

ay Z has spent many years repping for and personally investing in Barclays Center, the big arena that opened in Brooklyn a year ago. As Pitchfork's Ryan Dombal mentioned in his 2012 review of Jay's opening Barclays show, the rapper owns "about one-fifth of one percent" of the arena. Now, as Forbes reports (via MTV), Jay Z is selling his share due to his sports agency, Roc Nation Sports.

Jay Z also formerly held a stake in Barclays' main attraction, the Brooklyn Nets. He has been forced to sell his shares in both Barclays and the Nets because it is a conflict of interest for him to represent NBA players and own shares of a team and an arena. Forbes estimates that Jay Z could get $1.5 million for the sale of his Barclays shares.

In April, Jay Z announced the launch of Roc Nation Sports. The company handles management, marketing, and more for a roster that includes the New York Yankees' Robinson Cano, the New York Giants' Victor Cruz, the Oklahoma City Thunder's Kevin Durant, and the Tulsa Shock's Skylar Diggins.

The rapper grew up near Barclays, at Bed-Stuy's Marcy Projects. "I've been on many stages all around the world, but nothing feels like tonight," he said, last year, at the first Barclays event.

Two Jay Z dates are currently scheduled at Barclays, for January, on the Magna Carter Tour.

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