Sports are often promoted by stating that they keep athletes off the streets and offer them a brighter future. However, one rapper benefited from the opposite, and turned his success that originated from the streets of Brooklyn into an invitation to the world of professional sports.
Shawn Carter, better known as Jay Z, transformed from a rapper from the projects of Brooklyn to a successful businessman who recently launched his own sports agency. Since producing his first album in 1996, Jay Z has released 12 total solo albums, becoming one of the most successful rappers in the world. He has also established himself as a strong presence in the hip-hop world by releasing albums with notable musical entertainers, such as Kanye West, Linkin Park, and Justin Timberlake. Also, in 2008 he married the musical artist Beyoncé, who has had a very successful career in entertainment.
The prior description and summary of Jay Z and his career may seem like that of any other prosperous hip-hop artist who has accumulated a fortune through entertainment. However, what he does with that fortune is what sets him apart. Many artists in the entertainment industry, especially rappers, have a history of making millions in a few years, then losing it all due to excessive spending. Jay Z quickly began working to dodge this possible fate, and cofounded Rocawear, a clothing line, in 1999 just a few years after his initial success. Many other rappers such as Snoop Dogg, Eminem, and 50 Cent have unsuccessfully attempted to expand their careers by creating their own clothing lines, only to be met with a rude awakening. On the other hand, Jay Z established a successful clothing company and was able to sell the rights of his clothing line in 2007 for over $200 million.
Jay Z saw this influx of cash as an opportunity to enter the business of professional sports. He was able to purchase a small portion of the New Jersey Nets, an NBA basketball team. Considered a local team by many New Yorkers, Jay Z wanted to relocate the team to make it a true New York basketball team. Even though the New York Knicks are centered in Manhattan, he wanted to bring the team closer to home, and played a large role in bringing the team to Brooklyn. The Nets moved into the Barclay’s Center, a $1 billion arena that Jay Z also retained a stake in. The stadium opened just a few months before the 2012 NBA season in what seemed like the only fitting way: a Jay Z concert.
After a few years of owning a small share of the Nets, Jay Z decided to sell his shares in order to dive deeper into the business of sports. In doing so, he founded Roc Nation Sports. Roc Nation Sports, a professional sports agency, opened with a bang by signing Robinson Cano, the New York Yankee’s All-Star second baseman. Cano was previously represented by Scott Boras who currently represents several of the highest paid players in all of Major League Baseball. Jay Z and Roc Nation Sports quickly proved their legitimacy by assisting Cano in signing a 10-year, $240 million deal to play for the Seattle Mariners. Roc Nation Sports did not stop there and continued to sign several other notable athletes, such as NFL players Victor Cruz and Geno Smith. The agency also solidified its place in Major League Baseball by signing C.C Sabathia, one of the top five highest paid pitchers in the MLB. One of the most surprising athletes to be added to the agency’s impressive lineup of star athletes is Kevin Durant, the superstar basketball player on the Oklahoma City Thunder. What separates Durant from the previously listed athletes is that he does not currently play, and has never played, for a professional sports team in Jay Z’s home state of New York. This goes to show that Jay Z and Roc Nation Sports are serious about their business and have intentions of expanding and adding to their notable list of clients.
Over the past two decades, Jay Z has been able to put together one of the most successful rapping careers of all time, and in recent years he has expanded his boundaries and has become very successful in the business world. Jay Z best sums up who he is with his lyrics in the song “Diamonds from Sierra Leone Remix” by Kanye West featuring Jay Z, when he states, “I’m not a businessman, I’m a business, man.”