Roc Nation Launches Roc Nation Sports With CAA, Signs Yankees' Robinson Cano
The Jay-Z-led management company ventures into the world of professional athletes.
With the Major League Baseball season just getting underway, Yankees second baseman Robinson Cano made news off the field, severing ties with longtime mega-agent Scott Boras and signing a deal with Jay-Z's Roc Nation management company, the first such deal for the music mogul's organization.
Roc Nation announced Tuesday that it has signed a partnership deal with CAA to move into sports management, with the new wing of the company known as Roc Nation Sports. Cano, a four-time all-star who has spent his entire career with the New York Yankees and is in the final year of a $57 million contract (according to ESPN), will be co-managed by the two companies.
“Because of my love of sports, it was a natural progression to form a company where we can help top athletes in various sports the same way we have been helping artists in the music industry for years,” said Jay-Z in a statement.
CAA Sports manages over 800 athletes across a broad spectrum of sports, while Roc Nation is the home to Rihanna, J. Cole, Rita Ora, Shakira, Timbaland, Solange, M.I.A., Deadmau5, Meek Mill, and more. Roc Nation Sports will be co-headed by Jay-Z and Roc Nation president Juan Perez.
"Jay-Z and his team at Roc Nation have successfully orchestrated powerful brand and business-building opportunities for their clients,” said Michael Levine, co-head of CAA Sports, in a statement. “We look forward to combining our wide-reaching resources on behalf of top athlete clients like Robinson Cano to help them accomplish their goals on and off the field."
Cano, for his part, will be looking to either negotiate a new deal with the Yankees this year or test the free agency market in the offseason, setting up a potentially lucrative contract while the second baseman is still in the prime of his career.
“At this point in my career, I am ready to take a more active role in my endeavors both on and off the field,” said Cano in a press release. “I am confident that the pairing of Roc Nation Sports and CAA Sports will be essential in helping me accomplish my short- and long-term goals. I am making this important decision now so I can keep my focus on helping the Yankees succeed in 2013, while minimizing any distractions for me and my teammates."