Brooklyn Nets unveil new logo, designed by Jay-Z

The wait is over. On Monday, the Nets officially ditched New Jersey for Brooklyn. To mark the occasion, the team introduced a new logo and color scheme - trading the team's former red, blue and gray emblem for a sleek black and white shield featuring a "B" fo Brooklyn.

The logo was created by hip-hop mogul Jay-Z, a part-owner of the team, in anticipation of the relocating team's debut next September at the Barclays Center in downtown Brooklyn.

"The boldness of the designs demonstrates the confidence we have in our new direction," Jay-Z said.

Both the black and white color scheme and the "RollSign" typeface are meant to evoke NYC subway signage as it was 1957, when the Dodgers moved to L.A. and left Brooklyn without a major professional sports team.

The Nets have also launched an extensive "Hello Brooklyn" marketing campaign to help build "a connection between the borough and its new home team," the team said.