News: After Mega Yankee Signing, Jay-Z Makes Another Huge Sports Move
Saturday, Apr 13, 2013 11:50PM
After signing New York Yankees superstar Robinson Cano to his newly launched Roc Nation Sports earlier this month, rap mogul Jay-Z has reportedly applied to become a certified Major League Baseball agent.
While details are still scarce, Young Hov has made strides to take his love for sports to the next level as a licensed sports agent.
Entertainer Jay-Z is applying to become a certified baseball agent, according to the Major League Baseball Players Association. Jay-Z, whose given name is Shawn Carter, submitted the application two days ago, MLBPA spokesman Greg Bouris said yesterday in a telephone interview. Bouris said there was no timetable for the union to process the application. (Business Week)
The news comes just days after reports of Jay starting the process to give up his stake in the NBA's Brooklyn Nets flooded the Internet.
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 - 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. (Yahoo News)
Late last week, speculation on Jigga possibly giving up his stake in the Nets spread online.
"I would expect there to be significant issues raised, even potentially forcing a sale of his interest in the Nets, if this matter was not addressed to the satisfaction of the NBA," says Marc Ganis, president of the consultancy Sportscorp, Ltd. Jay-Z wouldn't have to sell his Nets stake to represent baseball players, that's for sure. But there are two major issues, says Ganis, that would arise if he tried to represent NBA players: whether or not he could handle their basketball-related matters given his status as a co-owner of the Nets, and whether he could handle non-basketball related matters like endorsements as well. There seems to be no question that Jay-Z would be prohibited from doing the former, and though the latter is a slightly more complicated issue, it appears that wouldn't be permitted by the NBA, either. (Forbes)
Jigga issued a formal statement backing his decision to launch Roc Nation Sports last week.
Robinson Cano will be co-represented by CAA, a leading sports and entertainment agency, and Roc Nation Sports, a branch of a company founded by Jay-Z. Jay-Z announced the launch of Roc Nation Sports as a full-service sports management company on Tuesday. "Because of my love of sports, it was a natural progression to form a company where we can help top athletes in various sports the same way we have been helping artists in the music industry for years," Jay-Z said. (Fox Sports)