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Source: Jay Z selling minority shares

Head coach Jason Kidd is buying a portion of Jay Z's minority share of the Brooklyn Nets, a source confirmed for ESPN.com's Darren Rovell.

There is no rule against coaches owning a stake in teams, but there is a rule against players or agents doubling as owners. Jay Z formed the agency Roc Nation and represents athletes including New York Yankees second baseman Robinson Cano, Oklahoma City Thunder forward Kevin Durant and New York Jets quarterback Geno Smith.

According to a NetsDaily report, the value of the share being bought by Kidd is $500,000 and represents one-sixth of 1 percent ownership of the team.

The transaction must be approved by the NBA.

It's rare but not unprecedented for a member of an organization to own a piece of the team. Earlier this year, Flip Saunders, president of basketball operations for the Timberwolves, bought a minority share in the Wolves.