Jay-Z reportedly giving up Brooklyn Nets ownership to become agent
According to Yahoo! Sports’ Adrian Wojnarowski, Jay-Z has begun the process of divesting his ownership share in the Brooklyn Nets in order to become a certified NBA agent. HOV owns less than one percent of the team and league rules prevent owners from also representing players.
One could almost see this move coming. Jay Z’s Roc Nation company recently partnered with Creative Artists Agency (CAA) to launch a sports representation firm, and they are already making noise. Robinson Cano signed with Jay-Z’s company last week, as did New York Giants wide receiver Victor Cruz.
The allure of working with Jay-Z and being associated with his brand is very strong and should be enough to steer many clients toward CAA. Much like his relationship with the Nets, Jay-Z won’t have to be involved too much in the hands-on business, but he will come into play as a visible front man.
Agents are said to be panicking about this development, and they should be. We all know that many athletes love the music game (and vice versa), and often have aspirations of becoming more than just an athlete. Many will believe that partnering with Jay-Z will give them the opportunity to do so.