He does represent the Nets. He is an owner, even if a small owner. He cannot say whatever he wants. You are misreading the rules, which talk about team officials.
Bruce Ratner is a minority owner with 7%. Forest City Enterprises is a minority owner with 23%. There is no majority owner. Nor is there anything in the rules that exempt minority owners.
Jay-Z has to be careful and telling Vibe that he texts Lebron while he is on the bench is just plain dumb. If an owner of the Cavs were texting Carter during a game, how do you think you'd feel?