Entertainment Mogul/Rapper Jay-Z is at it again, expands Roc Nation into professional sports representation:
Via NY Times:
When Robinson Cano rejected the offer of a substantial contract extension from the Yankees before spring training, he was still being represented by Scott Boras, baseball’s most formidable and challenging negotiator. It is Boras, after all, who consistently takes big-name players to free agency so they can obtain every last penny possible in a new contract.
But on Tuesday, Cano announced that he had fired Boras and replaced him with a new agency headed by Jay-Z, the entertainment mogul and Yankee fan.
For the Yankees, who have been battered with bad news lately, Cano’s surprising decision could only be seen as a heartening development.
Jay-Z for Boras is a trade they would probably make any day of the week because it would seem to increase their chances of reaching a new deal with Cano, their 30-year second baseman, before his current contract expires after the 2013 season and before other teams can begin efforts to take him away. Read the rest of this entry
The NY Times examines Jay-Z’s influence on re-branding the new Brooklyn Nets, a small investment yielding big results:
When the developer Bruce Ratner set out to buy the New Jersey Nets and build an arena for them in Brooklyn, he recruited Jay-Z, the hip-hop superstar who grew up in public housing a couple of miles from the site, to join his group of investors.
Mr. Ratner may have thought he was getting little more than a limited partner with a boldface name and a youthful following that could prove useful someday. But Jay-Z’s contributions have dwarfed the $1 million he invested nine years ago. His influence on the project has been wildly disproportionate to his ownership stake — a scant one-fifteenth of one percent of the team. And so is the money he stands to make from it.
Now, with the long-delayed Barclays Center arena nearing opening night in September and the Nets bidding in earnest for Brooklyn’s loyalties, Jay-Z will perform eight sold-out shows to kick things off. But away from center stage he has put his mark on almost every facet of the enterprise, his partners say.