New York ( CNN ) -- Brooklyn Nets . This is what the NBA world will now be calling the New Jersey Nets . Media mogul Shawn `` Jay-Z '' Carter revealed the name Monday , along with Brooklyn Borough President Marty Markowitz , Forest City Ratner Companies Chairman and CEO Bruce Ratner , and Barclays Center and Nets CEO Brett Yormark , at Atlantic Terminal in Brooklyn . They were near the construction site of the Nets ' future home , The Barclays Center . `` We are proud to announce this highly anticipated decision to name the team the Brooklyn Nets , a choice which reflects the decades-long tradition of our team and fans , as well as the dynamic new place that will be our home , '' Nets Chairman Chris Charlier said . Carter , a part owner of the Nets , also said he will be the first to perform at the venue 's opening , scheduled for September 2012 . `` From the moment the Barclays Center became a reality , I knew this meant something significant for Brooklyn , '' Carter said . `` This is where I 'm from , I 'll always be Brooklyn , and opening this arena will mean more to me than anywhere else , '' he said . `` We 're going to create an atmosphere like only Brooklyn can . '' The Barclays Center is set to host major entertainment and sporting events , which could mean some competition for New York 's staple Madison Square Garden . It will also feature four bars , three clubs and a restaurant . Carter invited 25 students from George Westinghouse High School , where he attended , to take part in the announcement , which included the unveiling of a marketing campaign for fall 's All Access Pass featuring Carter . Marketing includes 250,000 coffee cups , 150 taxi tops , print ads , pay phones , direct mail and a billboard across the street from the venue .
Rapper `` Jay-Z '' Carter , a part owner , reveals new name . Carter says he will be first to perform at team 's future home . George Westinghouse High School set to open in decades .