In addition to breaking ground on the Nets' controversial move to Brooklyn, Jay-Z had another business thing happen to him this week: He has officially backed out of the probably illegal gambling deal he and Russell Simmons were involved in. The deal fell apart after it was revealed that New York Governor David Paterson probably handed out the contract illegally, and now Paterson has rescinded the contract, leading AEG (the company Jay-Z has some money in) to back out of the deal. It's not clear if Jay will still have to answer the subpoena he received in relation to the deal. Probably, as investigators still try to get to the bottom of Paterson's vast ethical lapses. [HipHopWired]