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The Nets reveal its highly anticipated Jay-Z designed logo.

The new logo for Jay-Z's Brooklyn Nets has been revealed.

Hov, who designed the logo himself, settled on a black-and-white color scheme and a classic, simple look.

During a press conference earlier today, CEO of Nets Basketball Brett Yormark was quoted as saying, "Today, we launch the next chapter. Boy, this feels good. We've been waiting seven years to get to this point."

Merchandise sporting the team's logo is already available on NJNets.com, while additional items can be viewed at the team's Facebook page including hats and tees.

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