jay z jason kidd

*A source confirmed Wednesday that Jay Z is selling part of his small ownership stake in the New York Nets to its coach Jason Kidd, setting up an odd dynamic where the team’s coach is doubling as shareholder.

The website Netsdaily.com reported that Jay Z — who owned 1/6 of 1 percent of the franchise — is selling half of his shares to Kidd for $500,000, and the other half to an undisclosed party.

In other words, Kidd is getting about .083 percent of the Nets, pending the expected clearance of logistical hurdles. The NBA allows coaches to double as owners, but Kidd would have to relinquish his shares if he’s employed by another team.