Thursday, 4 April 2013

Jay-Z Expands Brand, Adding "Sports Agent" Title With CAA and Yankee Coup

by Mark J. Miller

Jay-Z has sold about 50 million albums, won 17 Grammys, is worth almost $500 million and can well afford his own "gentlemen's club" and nightclub, is the co-creator of the Rocawear fashion line, a part-owner of the NBA’s Brooklyn Nets and the Barclays Center stadium in Brooklyn, and happens to be married to Beyonce and the father of Blue Ivy Carter. 
So while he may be busier than your average Roca-a-fella, he's also making time for a brand new endeavor to stretch his business clout: becoming a sports agent.
The big news this week—via well-placed media clips in the Wall Street Journal andNew York Times—is that Jay is opening his own sports agency, snagging New York Yankees second baseman Robinson Cano away from the sport’s best-known and most-feared agent, Scott Boras, to be his first client.
Cano is in the final year of his current contract with the Yanks so whoever negotiates his next one, which will likely be worth more than $200 million, will be reeling in a whole lot of dough. It’s looking like the man who'll be hauling it is in none other than Hova himself.
The hip-hopreneur formerly known as Shawn Carter has been raking in cash by representing music artists such as Rihanna, Shakira, and M.I.A. with his Roc Nation business, the NY Times points out. And now his brand new Roc Nation Sports agency has partnered with the legendary CAA (Creative Artists Agency) for help on the negotiating front.
“What a Jay-Z brings to the table is an ability to connect with the athletes in a way that a player agent who came up as a lawyer or accountant never will,” said Marc Ganis, president of SportsCorp, which brokers team sales, the Times reports. “Jay-Z can say, ‘We both came from humble beginnings, both of us have women chasing us, both of us want to make a lot of money, but not pay a lot in taxes.’ Then, there’s the aura around him.”
Boras said he felt “blindsided” by Cano’s move, but plenty in the industry weren’t feeling sorry for the guy since he’s spent 25 years playing hardball with every team and agent around. And we'll bet he can still snag pretty sweet seats at the Barclays Center any time he wants.

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