The great Christopher Wallace was on to something when he said, “the more money you make, the more problems you get.” That’s especially ringing true for Jay Z. The mogul is being sued for $600 million by a man who claims that he registered the name “Brooklyn Nets” 10 years before Jay and developer Brett Ratner moved the NBA team to the borough.
RadarOnline to the rescue:
Indeed, documents submitted as evidence show that de Cassagnol filed applications in 2012 for “The Brooklyn Nets Entertainment Logo,” which was first used in the State of Louisiana back in 2003.
He even claims that before the team moved to Brooklyn, he spoke with officials at the New Jersey Nets organization and the NBA who assured him that the team would not use the term “Brooklyn Nets,” but would most likely opt for “New York Nets.” Unfortunately, he claims, “It was pure mismanagement of the facts.”
In 2012, the team announced they would go by the name “Brooklyn Nets,” and ever since, de Cassagnol has been enmeshed in a legal struggle trying to get what he says is his due.
A previous appeal to the U.S. Patent Office found in favor of the NBA, ruling that de Cassagnol filed his paperwork after details started leaking about the Jersey team moving to the New York City borough and gentrifying the sh*t out of downtown Brooklyn.
Still, the “disgruntled entrepreneur” is pushing for what he feels he’s owed, now that the Nets are worth $780 million according to Forbes.
As you may recall, Jay sold all his Nets shares to head coach Jason Kidd last year after opening up Roc Nation Sports agency.
*insert stupid “99 Problems” joke here*