Hip-Hop mogul Jay-Z held a press conference this morning to announce that the New Jersey Nets are now officially the Brooklyn Nets. The team has been planning the move since 2004, when Jay-Z along with other investors, namely Bruce Ratner, put up a $300 million bid for the team. In 2009, Russian businessman Mikhail Prokhorov, put up $200 million, became the Nets principal owner and decided to move forward with the plans to relocate. The name change will be final after the completion of the 2011-2012 season.
Jay-Z sat down with Good Day New York to discuss the team's plans.
Though he didn't announce the team's new colors, something tells me 'Jay-Z Blue" will be somewhere in the mix.
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