http://money.cnn.com/2013/04/02/news/companies/jay-z-sports-agent/index.html?iid=HP_LN
Shawn "Jay-Z" Carter can do it all. The famous music artist has opened his own entertainment company (RocNation) which is centered around the music industry, managing artists, songwriters, producers and engineers. The man has even created his own line of clothing called Rocawear. It wasn't until recently that he finally has moved into the sports management. He expanded his company into the sports management market and his first client is New York Yankee's superstar Robinson Cano, who is supposed to be the number one player of the free agent market after this next MLB season. Quite the impressive first client for Shawn. Who knows what he will do next.
Jay-Z has proven himself to be a wildly successful entertainer and businessman. Most likely, he'll experience some degree of success in this endeavor. Jay-Z is an intelligent businessman, he uses his name for the Brooklyn Nets to fill seats at a star studded affair every game it seems like. He will be just as successful in the sports management market as well because he is a name behind a brand that will sell. Who wouldn't want to be part of Jay-Z's management team. He will get big contracts for his players or his partners will because of his name.
ReplyDeleteJay Z is the second-richest personality in hip-hop, with a net worth nearing $500 million. The richest one is Sean 'P. Diddy' Combs with a net worth of over $550 million. Both of them made most of their millions through other non-rap business ventures. Jay Z through his company, RocNation, and P Diddy through his clothing line, endorsements and other ventures. More and more rappers are realizing this fact. Dr. Dre, for example, created and sold-off his Beats Headphones to another company, making a nice profit. Also, the rappers can market their products in their videos and can reach millions of viewers and potential customers through this. And since they have a loyal fan base, most of their products would be considered cool and would be highly marketable.
ReplyDeleteRappers doing business? Not sure how I feel about this venture...
ReplyDeleteI really wonder how many athletes, let alone top-name athletes, would want Jay-Z as their agent. Although he is an icon, what does he know about sports management that all the other paid professionals in that field don't?
I say his safe bet is to pull a Diddy and create his own alcohol.