Jay-Z was on the Howard Stern Show on Sirius Satellite Radio this morning to promote his new book Decoded. Among the many topics discussed was this brief exchange about his close friendship with LeBron James and his part-ownership of the New Jersey Nets. Despite the many rumors to the contrary following the "Decision", Jay-Z denied that he held any grudge against James for choosing to sign with the Miami Heat. Near the end of the interview, Stern tells Jay-Z he had turned down a request during free agency to participate in a New York Knicks recruitment video for LeBron James... Stern: This guy knows what he’s doing. That’s insulting. I’m going to go somewhere and beg him? What, he doesn’t know what he’s doing? Did you make the major play for him? Jay-Z: Well, he’s a friend of mine. Stern: Right. Jay-Z: Yeah, we had the conversation. Stern: What do you say to him to get him enticed? Jay-Z: It’s a different conversation for me and him because, again, we have a relationship. So for me it was, just, present the opportunity and let him make his decision. Stern: Right. You weren’t angry with him though were you? Jay-Z: No, no. Of course not. Stern: You making any money with the Nets? Can you make a lot of money being an owner in the Nets? It’s got to be profitable, right? Jay-Z: No, it’s not really profitable. Stern: It’s just an ego thing? Like kind of like, to put it out there? Jay-Z: Yeah, NBA teams are like paintings for billionaires. Robin Quivers: They don’t make money those teams? Jay-Z: If they’re the Lakers or the Knicks. There are very few teams. Well, not the Knicks. Quivers: Not even the Knicks? Jay-Z: There are a couple of teams that well, Knicks maybe make money. That place is always packed. Stern: Could you ever imagine at nine years-old if I said to you, ‘One day you will grow up and own a piece of the Nets, to own a team?’ Jay-Z: The dream is hard enough to be a basketball player! Stern: Yeah, right. Exactly. Jay-Z: It’s that difficult. Stern: But to own the team would be insane! Jay-Z: Yeah.