Wed April 3, 2013
Jay-Z Delves Into Sports Management
STEVE INSKEEP, HOST:
Some other news - Jay-Z is expanding his business empire. Music is not enough; his newest venture is sports management services. NPR's Wendy Kaufman reports.
(SOUNDBITE OF SONG, "DIAMONDS FROM SIERRA LEONE")
JAY-Z: (Rapping) I'm not a businessman. I'm a business, man.
WENDY KAUFMAN, BYLINE: Jay-Z, a mogul in hip-hop, is also a savvy entrepreneur. Just as the lyrics from the 2005 Grammy-winning song "Diamonds from Sierra Leone" suggest, Jay-Z has many interests. He's a successful record producer and CEO of a music label, and he owns a piece of the NBA's Brooklyn Nets.
Jay-Z, aka Shawn Carter, said it was a natural progression to form a company to help top athletes, in the same way he's been helping those in the music industry. Roc Nation Sports will team up with the sports division of Creative Artists Agency, a giant entertainment-management company
Leigh Steinberg, a successful sports agent, suggests the combination of sports and entertainment is powerful, but he wonders if Jay-Z can do for athletes what he's done for musicians.
LEIGH STEINBERG: Ultimately, athletes want the best contracts negotiated, the best advice, the best marketing, but it has interesting potential.
KAUFMAN: Jay-Z's first client is the Yankees all-star second baseman Robinson Cano.
Wendy Kaufman, NPR News. Transcript provided by NPR, Copyright NPR.