Jay Z Among Those Named In $600 Million Brooklyn Nets Lawsuit

posted Thursday January 23 ,2014 at 05:45PM CST | 23 comments

Jay Z Among Those Named In $600 Million Brooklyn Nets Lawsuit

Jay Z is among those named in a $600 million lawsuit over the naming of the Brooklyn Nets basketball team.

Jay Z, the NBA and developer Bruce Ratner are being sued in a $600 million lawsuit by a man over the naming of the Brooklyn Nets basketball team, according to radaronline.com.

Dr. Francois de Cassagnol says in his filing that he trademarked the name “Brooklyn Nets” more than a decade ago. He claims that Jay Z, the NBA and Ratner “fraudulently conspired” to use loopholes in the U.S. Patent Office so that they could use the name Brooklyn Nets. 

Dr. de Cassagnol has be involved in a legal battle over the issue since the Nets announced in 2012 that they would be called the Brooklyn Nets once they moved to Brooklyn from New Jersey.

In September, Jay Z was set to sell his remaining ownership stake in the Brooklyn Nets to Jason Kidd, the team’s head coach and one of its former players. The Brooklyn rapper’s total stake in the team was reportedly $500,000 and represented one-sixth of 1 percent ownership of the team. The NBA must approve the proposed transaction between Jay Z and Kidd. Jay Z had already sold the other portion of his Nets ownership to an existing minority owner of the team.

Jay Z also owns the Roc Nation Sports agency, which may be why he’s selling his stake in the Nets. NBA rules do not allow players and-or agents to own part of a team. There is no rule against coaches owning a portion of a team.

Kidd played for the then-New Jersey Nets from 2001-2008 and won an NBA championship as a member of the 2011 Dallas Mavericks. Kidd also reportedly suggested that Jay Z buy into the Nets 10 years ago.

RELATED: Jay Z Set To Sell His Stake In Brooklyn Nets To Jason Kidd

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Comments 23 Posts

  • Judy Moffett
    uptil I saw the receipt for $8433 , I didn't believe ...that...my brothers friend was like they say actualie bringing home money part-time on-line. . there dads buddy started doing this 4 only 13 months and at present repayed the loans on their house and bought a gorgeous Car . you can look here... www.TEc80.Com Yet you read and watched but couldn't think of a reason that makes what he said wrong besides "he's irrelevant".
  • gangrelated
    dom u son is a punk i got my opion bitch Jigga is wack bro - dom u a punk - your mother should have swalloed you LOLOLOLOLOLOLOLOLOOLOOLOLOOL - Jayz is a punk RIP half-a-mil
  • Anonymous
    elliott wilson got a email telling him not to cover this story on rapradar good job hiphopdx is
    • Jerome
      Elliot Wilson is the most shameless insufferable jayz dickrider I have ever seen. He is in his mid 40s and behaves like a fucking pre-teen fangirl aroudn jay
    • Anonymous
      what elliot wilson is to jay z... DX is to lord jamar
    • Anonymous
      you have to work and use the computer and internet, and if you can do that and dedicate some time each day then you can do this with no problem. I have been working with this for a month and have made over $2,000 already. let me know if you need more help..>>>> BAY90.COM
  • Anonymous
    Okay, Hov was going around saying part owner of the Nets. C'mon man 1/6 of a percent ownership??? I thought dude owned like atleast 10% of something. I guess if I buy a couple shares of a corporation, I can walk around saying I'm part owner of a corporation. WTF Hov, that's just stupid.
    • How u knw fools
      From ur lame comment I know ur family can get half of what Hov spend in a day n if u want to prove me wrong put ur fathers pay check on here fool.
    • yakov
      1/6 actually IS more than 10 percent, dumbass.
    • HAHAHAH
      Yakov,, you are stupid 1/6 of 1 percent is not 10 percent it's not even 1 percent. it's more like 16.66% of 1% it's very little very very very little
  • GangRelated
    JayZ is the most overated MC ever - and im from Brooklyn - word on the street is he never sold shit - so why lie Jigga - RIP Half-A-Mil
    • Dom son u
      One thing u should know is that ur father thinks and dream of Hov so better do same coz hate will only make u as broke as ur father thanks
  • Rowland
    Are you A hipHop fan looking for GREAT HipHop music that is focused on protecting lyrical integrity when it comes to rap. Influenced by the late '90s and early '2000s with artist from Biggie Smalls, to Jay Z, The Lox, Eminem, and Busta Rhymes. - sunbmusic.zxq.net
  • Ivan Jones
    WOW! You actually have a "RELATED" link to the exact article you copy and pasted from... from LAST YEAR! Come on.... you can be better than this.
  • Ivan Jones
    This article was poorly scrapped together using old articles I'm assuming and is beneath this sites quality. It talks about Jay and his stake in the team/selling to Jason Kidd/NBA approval like it's currently happening. DO BETTER SOREN BAKER!
  • AL
    i see it a back, kidd was all topped up
  • myers
    http://www.youtube.com/watch?v=iP-jYiuDD9g
  • 666 creeper
    had son biych in house watching tv .than mothe rfucker looked in window real fast at him with 666 mask on. son bitch ran out house.. looked out the window seen em both running backwards to jason waters. god dam it, its the mother fuckers at the bitchen
    • AL
      jason water was 3peat, didnt say it doe
  • brad from the mall
    have no clue whats going on. but ashanti walking down random streets changeing random mask real fast walking real crazy.she went in store got few itams than left store. then few mins later she peeked her head in store on once. than put wolf mask on .peeked it store again real quick.smh making weird things.
    • Anonymous
      lol whut
  • Anonymous
    hilarious... eat a dick, House Negro
    • K Wiz
      What's so funny? getbeatdown.com