New York, NY – Jay-Z has officially cemented his legacy into the world yesterday by announcing the creation of the Roc Nation Sports Agency. This comes after months of rumors that Mr. Shawn Carter had already had his business plans in full swing. Robinson was the first athlete to join this adventure and may well indeed truly cash in on this business relationship with Carter.
It has been foreseen for quite sometime that Carter wanted to more than just be a record label executive and legend in hip hop music. After signing as an executive for Def Jam records, Carter, in 2004 bought a minority share of the New Jersey Nets to diversify his business portfolio. Carter created Roc Nation along with president Juan Perez and has partnered up with creative Artist Company. This initial contract with Cano will probably be a catapult into what will be more than likely a lucrative investment for Carter. Cano will probably earn top dollar with a new contract that he is expected to receive from the New York Yankees.
Carters still owns 0.07% shares of the Brooklyn Nets amid rumors that he would have to give up his share as this would be a conflict of interest to his new ventures. This would only bode true if Carter indeed intends on branching off into taking on NBA players. Latest News Brooklyn Jay-Z opens sports agency, signs Robinson Cano. If he signs NBA players, he’ll have to sell Nets stake.“There is no prohibition on NBA owners having an interest in businesses that represent non-NBA athletes,” NBA spokesman Mike Bass told USA Today’s Jeff Zillgitt. As long as Jay-Z does not represent NBA players he can keep his ownership stake in the Brooklyn Nets, as per Bass. Rich Calder of the Post reports that the hip-hop mogul wouldn’t have to give up his stake in Barclays Center or leave the arena’s board of directors either.
There is also news that this was one of the many reasons as to why wide receiver Victor Cruz had not signed with any one. It is believed that Cruz will sign on with Roc Nation also. This is big news to athletes and media circles due to the rappers astounding influence. In a statement, Carter said, “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.” As for the other personnel members of Roc Nation personnel who will be working in baseball, they must first become certified as either general or limited agents.They are now working off a temporary limited certification. Carters ownership of the Nets will be reviewed when the full application is received by Union Special Advisors.
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