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EAST RUTHERFORD, N.J. -- Jason Kidd has officially secured a minority ownership share in the Brooklyn Nets, the team's first-year coach confirmed during a wide-ranging news conference Tuesday.
"It's official. It's a great opportunity. That's it. Nothing too exciting about that," Kidd said.
The value of the share, formerly owned by Jay-Z, is $500,000 and represents one-sixth of 1 percent of the team. NetsDaily is reporting that Kidd's share also includes a small piece of Barclays Center.
"I think you look at the product and where the brand is going," Kidd said. "And I'm a big believer that it's going in the right direction. Like any investment, you want to continue to go with a company that's going in the right direction, and this is a company I feel that's going in the right direction."
Jay-Z is now a certified NBA agent, Robert Gadson, NBAPA director of security and agent administration, told SportsBusiness Daily on Monday.
The Nets are a week away from opening training camp on Oct. 1 at Duke University. Kidd will make his non-summer league coaching debut in the team's preseason opener Oct. 8 at Washington.
Kidd went to a two-day coaches' clinic at the Los Angeles Clippers' practice facility over the summer and learned from the likes of Phil Jackson, Pat Riley, Doc Rivers and Frank Vogel.
"They weren't sharing their secret sauce but their information of what they did to be successful," Kidd said.
Kidd said the Nets had no identity last season, calling the team "vanilla," but that he believes the additions of future Hall of Famers Kevin Garnett and Paul Pierce will change that.
Kidd said Garnett wasn't too happy when they discussed the possibility of Garnett not playing in both games of back-to-back sets this season. He said nothing was finalized about that. Kidd wants to keep Garnett's and Pierce's minutes down so they will be rested for a playoff push.
Kidd said point guard Deron Williams will have another MRI on his sprained right ankle and bone bruise Friday, and he called shooting guard Joe Johnson the team's "closer," saying he's the guy the coach wants taking the last shot.
While Kidd wouldn't make any guarantees -- other than that he wants the team to come out of training camp healthy -- he did say, "we want to win and we want to win now."