Found April 09, 2013 on
Pass The Pill:
Although he owns a very small share of the Brooklyn Nets, hip-hop superstar Jay-Z is one of the most identifiable owners in sports. His success in the rap game and interest in sports makes him a very popular guy amongst professional athletes, including the great LeBron James.
Recently, news came out that Jay-Z is looking to enter the sports representation industry. Well, it looks like this is a serious move, as Jay-Z is now selling his ownership in the Brooklyn Nets to begin the process. Via Yahoo:
Entertainment mogul and rapper Jay-Z has started the process of divesting his small share of ownership with the Brooklyn Nets to extend his Roc Nation Sports representation business into basketball, sources told Yahoo! Sports.
Jay-Z will have to divest his share of the Nets to become certified as an NBA agent. (USA Today Sports)Jay-Z – whose real name is Shawn Carter – owns less than 1 percent of the Nets, but has been a central public figure in the franchise’s marketing and move from New Jersey to Brooklyn.
Selling his share of the Nets is a necessary prelude for Jay-Z to obtain his National Basketball Players Association certification as an agent.
NBA rules mandate that no one individual affiliated with a player representation company can have an ownership stake with an NBA team.
Jay-Z’s Roc Nation company has partnered with Creative Artists Agency (CAA) to launch a sports representation business that recently secured New York Yankees star Robinson Cano.
Jay-Z was barely even an owner of the franchise, but he was one of the more identifiable faces around.
It will certainly be interesting to see how his venture into the agency world goes. His popularity will certainly help him, and already locking in baseball All-Star Robinson Cano is a nice start.
This seems to be something he is taking very seriously, so we’ll see how he does. I’m sure existing NBA agents have to be at least a little nervous.
-Mark Evans, Assistant Manager/Editor of Content
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