Jay-Z is newly licensed to work as an agent for both NBA and MLB players. The licensure process includes tests and a fee to cover the administrative costs. He is expected to bring his marketing expertise and broad network to the company.
A representative of the sports agency said that as of this week, Jay-Z is licensed to work as an agent with the NBA. Greg Bouris, spokesman for the MLB Players Association, said Jay-Z is also licensed for professional baseball.
A source said the rapper has not yet sold his small-ownership share of the Brooklyn Nets, which would render him ineligible to represent players. If he is able to pass off the ownership, he might be able to sign players in the future.
Jay-Z is set to first sign Kevin Durant of the Oklahoma City Thunder, according to his agent, Rob Pelinka. Durant has not yet commented on the signing.
Jay-Z announced the creation of Roc Nation Sports earlier this year, and the firm has since signed Robinson Cano for the Yankees and Geno Smith for the Jets. He is not yet certified for the NFL, and may have violated the union's "runner rule," which ensures only licensed agents have a hand in recruiting players.
Roc Nation is expected to sign New York Giants wide receiver Victor Cruz, who signed a one-year free-agent tender offer of $2.879 million last week. The deal is expected to close this week.
Notable deaths of 2014 [PHOTOS]