Jay-Z held a press conference in New York City early Monday morning (Sep 26) and made 2 huge announcements!

In a very smart business move that is sure to give him some more money to toss around, the 42-year-old NBA minority owner announced that he is changing the New Jersey Nets’ name to the Brooklyn Nets.

Jay-Z also announced that he will perform 8 (or more) concerts at the Barclays Center when it opens in September 2012.

The rapper shared the news at a press conference across the street from the arena’s construction site at the Atlantic Terminal in hometown of Brooklyn, just minutes away from where he grew up at the Marcy Projects in Bedstuy.


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