In an recent ESPN segment, analyst and former professional basketball player, Jalen Rose, compared recording artist Shawn Carter aka Jay-Z to Earvin “Magic” Johnson. He did not compare their natural talent, nor did he compare their dominance in their respective professions. Rose compared these two men based on the fact that they have both elevated above stardom to the title of “mogul”. Jay-Z has lived his adult life in the headlines and the starlight and as shown by his recent business maneuvers shows no signs of slowing down. Carter has taken his Roc Nation Entertainment Company to new heights by adding Roc Nation Sports; a sports management agency. Carter is known for his passion for sports and has publicly shown it through the backing of the New York Yankees and more recently the Brooklyn Nets.
In a truly unforeseen move, Carter has aligned his Roc Nation Sports enterprise with Creative Artists Agency, better known as CAA, which happens to be one of the most powerful sports agencies in the business today. As if news of this powerhouse partnership is not enough to silence the critics, Carter inked his first professional athlete; none other than the New York Yankees All-Star second basemen, Robinson Cano. Cano, who finished in the top 5 of the AL MVP ballot voting last season, made the choice to leave well-known agent Scott Boras in favor of Carter and CAA agent Brodie Van Wagenen. In addition to Cano, CAA has individually inked New York Giants’ wide receiver Victor Cruz, and many think this may lead to a deal with Roc Nation Sports. Jay-Z has a specific passion for basketball and he has noted an interest in eventually representing some of the NBA’s elite. In order to do so, Carter most likely will have to rescind his ownership shares in the Brooklyn Nets.
This move is one that has a very interesting dynamic to it. Jay-Z is a global icon and with him comes a global market and global attention. Robinson Cano noted that he made the move to Roc Nation because he likes all the things Jay-Z can offer him off the field. Mixing professional athletes and hip-hop artists to me seems like a marketers dream and I can imagine that this can grow into a mutually beneficial relationship for both Roc Nation and the athletes they represent. Roc Nation can introduce itself to markets that the athletes might have a niche in and conversely the athletes can be exposed to markets that Roc Nation have a strong foothold in. It truly seems like a win-win scenario and I haven’t even mentioned the athletes’ representation on the field. CAA Sports is an extremely reputable agency and is currently known for getting the long-term deals done in a professional and timely fashion. For Shawn Carter, the proof is in the pudding. Almost everything he invests in with man-hours or financially is a success, and I doubt he would make a half-hearted attempt at something so important. The notoriety of Jay-Z paired with the skill and savvy of CAA Sports can lead to even greener pastures for many professional athletes; green pastures of dollar bills, that is.
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