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The New Jersey Nets will relocate to Brooklyn in the fall of 2012, and co-owner Jay-Z will headline an eight-concert series. The shows will take place during the arena’s grand opening, and Beyonce is reportedly going to perform, too.

Watch Jay-Z share the news about the New Jersey Nets’ official name change to the Brooklyn Nets in the video below.

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Jay Z: NBA Nets Renamed ‘Brooklyn Nets’: MyFoxNY.com