Jay Z has been hit with a $600 million lawsuit over the Brooklyn Nets name. In legal documents filed, entrepreneur Dr. Francois de Cassagnol claims that he trademarked the Brooklyn Nets name over 10 years ago. He is accusing the NBA, developer Bruce Ratner and Jay Z of using loopholes to lock down the name.
The hip-hop mogul began revamping the branding of the team two years ago by constructing a new arena in Brooklyn, tweaking the design and renaming the team the Brooklyn Nets from the New Jersey Nets. Dr. Cassagnol contends that he trademarked the name before Jay Z started using the term. Jay Z had a stake in the team up until April of 2013.
The entrepreneur claims the New Jersey Nets organization was in touch with him before the brand overhaul. He was told that the NBA would not use the Brooklyn Nets name. Dr. Cassagnol trademarked the title back in 2003.
Once the NBA went with the Brooklyn Nets over the New York Nets, Dr. Cassagnol embarked on a legal pursuit with the parties involved, reportedly wanting half a billion dollars in the lawsuit.
Details and photo courtesy of Entertainment Wise