Jay-Z held a special event this morning and announced that when the Barclays Center in Brooklyn opens next year that the Nets would have a new name, The Brooklyn Nets.

“We’ve decided that the final name would be the Brooklyn Nets,” said the rapper who grew up only minutes away at the Marcy Houses and later at 560 State Street.

“I’m giddy right now.”

The Center which has seen its share of controversy from residents who opposed its development will host a wide range of events from NBA games to college basketball to major concerts.

“I’m going to open the building with a couple of concerts… maybe like eight,” said Jay Z.

The Brooklyn native who will now have plenty of reason to come back to his old borough told Good Day New York’s Rosanna Scotto that he was proud of his involvement with Barclays.

“It’s already created so many jobs… there are lots of vendors,” added Jay Z speaking from the plaza at Atlantic Terminal overlooking the Center.

‘When you’re from Brooklyn there is a certain moxie you have… a certain confidence,” said Rosanna Scotto.

“I like that. You know what it is, it’s deep love. Biggie had a line ‘spread love that’s the Brooklyn way. It’s a deep love we have for our heroes. We walk around with that,” added Jay Z whose real name is Sean Carter.

As for any surprises yet to come from the mogul and NBA heavy-hitter, “the Nets will have new colors, but we’re not ready to announce that yet.”

Related: Jay-Z plans eight-concert series in hometown for Brooklyn Nets arena opening in 2012

Source: Fox