Jay-Z Nets: Rapper Gives Up NBA Ownership to Become Sports Agent
Rapper and mega mogul Jay-Z will give up his ownership in the Brooklyn Nets franchise in order to become a sports agent. He will join forces with one of the top talent recruitment centers in the world, the Creative Arts Agency (CAA). Although his share in the basketball team is anything but significant, his new gig will pose as a major threat to other agencies.
Jay-Z owns less than 1% of the Nets, about .067% to be exact. However he has become the face of the franchise nonetheless. With the team’s move from New Jersey to the hip hop star’s native city of Brooklyn, he is constantly photographed court side in the Barclays Center. With his extensive promotion of the team and his stature as a rapping legend, it is safe to say that Jay has become a prominent figure in the NBA. He launched Roc Nation Sports which will join a partnership with CAA. Since the announcement, Jay-Z has been able to book the high-profile New York Yankee Robinson Cano. In order to try his hand in gaining more NBA recruits, Jay will have to forfeit his ownership, according to the league rules.
CAA boasts some of the top athletes from all fields including: Tony Romo, Dwayne Wade, Carmelo Anthony, and Sidney Crosby. With the rappers new found influence in the agency, new NBA Draft picks may be quick to join forces with Roc Nation. However the likelihood of Jay-Z handling the business end will be slim to none.
Jay-Z is a man of many talents, but his significant strong suit is that he knows how to market himself. His contribution to his new agency will most likely consist of what he does best, socializing. What client wouldn’t jump at the chance to be wined and dined by one of the most prominent figures in the music industry and pop culture? With that in mind, Roc Nation Sports and CAA sound like a match made in heaven, leaving other agents little room to compete. It is remarkable how someone with such little share in an NBA team has become a figurehead of the organization. Jay-Z will now try his hand as a sports agent and will most likely blow all other agencies out of the water with his mastery in public relations.
The thought of Jay-Z pulling a Jerry Maguire…