Brooklyn-born rapper/businessman Jay-Z joined an ownership group which bought the New Jersey Nets for $300 million in 2004. The group, led by Brooklyn developer Bruce Ratner, is plotting to move the team from Continental Airlines Arena in Newark, NJ to a sparkling new stadium in co-owner Jay-Z's hometown. The move should get started during the 2011-2012 season, but no definitive actions have been made as of yet.
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