Jay Z Selling His Shares Of Nets Ownership To Become NBA Agent
Well the process for Jay Z to become a full-time agent that represents NBA players is starting to take its course. According to Yahoo Sports Jay has started the process of divesting his share of ownership with the Brooklyn Nets to extend his Roc Nation Sports representation business into basketball, sources told Yahoo! Sports.
Mr. Carter owns less than one percent of the Nets, but was a central and instrumental part in getting the team to Brooklyn.
Selling his share of the Nets is necessary for Jay-Z to get his National Basketball Players Association certification as an agent.
NBA league rules mandate that no one individual affiliated with a player representation company is allowed to have an ownership stake with an NBA team.
The total process is expected to be completed in time for Roc Nation Sports to have a shot at their fair share of players entering the 2013 NBA Draft.
Sources say that rival agents are shaking in their boots about the prospect of Shawn Carter becoming an NBA super agent because of his cred with players he’ll be pitching to.
Those within Roc Nation and the CAA alliance aren’t “chasing a clock on this,” one source said. “This isn’t about one draft, but taking the long view of the business.”
As is such with the arrangement Roc Nation Sports has with CAA’s baseball side, Jay-Z will let the firm’s basketball agents handle contract negotiations and day-to-day business with athletes.
The Shawn Carter’s impact will come with athletes linking to Jay-Z’s global reach in marketing, entertainment and business.
If he goes about his business right, he can definitely run this town and the world of basketball agency.