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Jay-Z To Sell Nets Share; Looking To Become An Agent

April 10, 2013 11:00 AM by Donna W. Martin

Former American Idol guest star, Beyonce, and husband Jay-Z recently slipped away for some R&R in Cuba where they celebrated their anniversary, but now it’s time to get back to business. And for Jay-Z that means selling his share of the Nets so he can pursue becoming an agent. Keep reading for more details.

According to Yahoo Sports, Jay-Z is looking to obtain a National Basketball Players Association certification so he can become a player agent. But before he can even think of getting certified, he has to let go of his less than 1% ownership share of the Nets in order to satisfy NBA rules that state “no individual affiliated with a player representation company can have ownership stake with an NBA team.”

And with the June NBA draft fast approaching, Jay-Z hopes to complete the process of selling his Nets share and getting certified so his company Roc Nation who recently joined forces with Creative Artists Agency to form a sports representation business, can compete for players. However, it’s no big deal if everything isn’t finalized in time for the June draft. A rep for Roc Nation explains, “[We aren’t] chasing a clock on this…This isn’t about one draft, but taking the long view of the business.”

Jay-Z plans to let agents within the company take care of the day-to-day business and negotiate contracts with the athletes. But nonetheless, rival agents are growing concerned about Jay-Z’s presence during the recruiting process. They believe his standing in entertainment and business will lure athletes away from them and enable Roc Nation to sign top prospects as well as existing stars within the league.

What do you think about Jay-Z becoming a player agent? Do you think players will go with his company because of his celebrity status? Sound off in the comments and let us know.

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Photo Credit: BET

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