Straight off his trip from Cuba, Jay-Z has focused his attention on basketball. Being an agent for his team, to be precise! Hey may own less than 1 percent of the Nets, but has been a central public figure in the franchise's marketing.
NBA rules say that no one associated with a player representation company can have an ownership stake with an NBA team. So, planning to sell his share is the first step for Jay Z to obtain his National Basketball Players Association certification as an agent.
CAA is one of the biggest agencies in the world, representing the likes of Chris Paul, Carmelo Anthony, Dwyane Wade, Tony Parker and Chris Bosh. Will Jay-Z's Roc Nation Sports inherit those clients, or will he basically serve as a recruiter for future players?
Jay-Z will let CAA's player agents handle things like contract negotiations and normal basketball duties, but use his part to build things like global marketing plans and business ventures.
And people fall for it RT @bookgirl96: People like Jay-Z don't actually negotiate deals. They slap their name on agencies to attract talent.— Nate Jones (@JonesOnTheNBA) April 9, 2013
Jay-Z won't be negotiating deals or anything. As one agent texted me: "This is CAA trying to gain clients who align themselves with Jay."— Alex Kennedy (@AlexKennedyNBA) April 9, 2013
Rival agents are apprehensive over Jay-Z ‘s potential recruiting trail, believing the lure of his iconic business and cultural standing will have a major impact on attracting top prospects and current league stars.