Jay-Z Officially An NBA Agent; Will Kevin Durant Sign With The "Magna Carta" Star?

Shawn Carter - known around the world as hip-hop mogul Jay-Z - and Roc Nation Sports president, Juan Perez, officially became certified National Basketball Association (NBA) agents, according to the Sports Business Journal. 

Roc Nation Sports - the sports agency partnership group that consists of the powerful Creative Artists Agency (CAA) Sports and Jay-Z's Roc Nation - wasted no time making their presence felt in the sports business world, recruiting big name talent to their roster despite just launching earlier this year.

Thus far, four-time All-Star New York Yankees second baseman Robinson Canó, Super Bowl-winning wide receiver for the New York Giants Victor Cruz, Tulsa Shock guard Skylar Diggins, and New York Jets rookie quarterback Geno Smith have joined the agency. Oklahoma Thunder forward and three-time scoring champion Kevin Durant recently parted ways with the more established Landmark Sports (who also represent Los Angeles Lakers guard Kobe Bryant) and is rumored to be signing with Roc Nation Sports.

"Jay-Z's pop culture status plays a major role in athletes signing with his sports agency," says Andrew Schrage, financial expert and editor-in-chief of MoneyCrashers.com. "As professional athletes begin to better understand and realize the importance of a personal brand, more are likely to sign with the rap celebrity."

Durant, for his part, seems enticed by the star-power that the "Reasonable Doubt" artist brings to the table with a source telling Yahoo Sports!'s Adrian Wojnarowski that Durant does not want traditional NBA representation,  saying that Durant went with Roc Nation Sports because "he had a chance to be with his idol and couldn't say no."

Smith, who fired Jeff Nalley and Eric Burkhardt after what he perceived to be bad professional advice leading up to the 2013 NFL draft, said he was drawn to the fledgling sport agency because of the clout and previous success of the Roc-A-Fella Records founder.

"When you talk about being in New York from a standpoint of what they can do in the city, the connections that they have, I think it's a good move," said Smith. "My mother and my family were comfortable with it. I'm comfortable with it."

Jay-Z's "street cred" in combination with the immense reach that CAA Sports has in the entertainment industry will be a formidable force as they pull in more clients, according to former president of Turner Sports, Harvey Schiller.

"I believe this new association is directly tied to Jay-Z's current popularity," says Schiller, who currently works as CEO of the risk management firm GlobalOptions Group. "I'm sure he has had on-going friendships with these recently signed players. CAA and others are always looking for 'rainmakers' to bring in clients."

CAA is considered one of the most powerful sports and entertainment agencies in the world, representing not only global sports stars and brands like The Manning Brothers, Derek Jeter, Cristiano Ronaldo, Jimmie Johnson, Shaun White, Georges St-Pierre, the New York Yankees, and FC Barcelona, but also Hollywood figures such as James Cameron, Steven Spielberg, Robert De Niro, Sandra Bullock, Shakira, and Kanye West.

CAA's association with the man hip-hop fans call "Hova" allows the company to recruit younger sports talent that has an eye towards success off-the-field as well as in their sports careers.

"A popular figure like Jay-Z brings these athletes closer to the entertainment industry than the typical agent," said Schiller to LatinosPost.com. "I believe the real driver here is CAA. Their place in the entertainment space is well-managed and experienced. These new associations will continue to grow."

Schrage also feels that Jay-Z's connection with CAA will be a huge factor that gives Roc Nation Sports corporate legitimacy unlike Percy Miller's, aka Master P, failed venture, No Limit Sports, into the sports agency industry.

Any agent who isn't scared of Jay-Z should have seen his entrance last night at his party. So many athletes are in awe of him.

— darren rovell (@darrenrovell) June 18, 2013

 "What Jay-Z did differently is that he partnered with an agency already established in the sports world, CAA Sports," Schrage told LatinosPost.com. "Master P chose a lawyer with little experience in the sports world as one of his advisers. The first major athlete they signed, Ricky Williams, out of the University of Texas, ended up with what is considered to be one of the worst contracts for an athlete of all-time."

Jay-Z's foray in the sports business world has not been without some pitfalls. Jay-Z had to sell his .067 percent share (1/15th of a percent) of the Brooklyn Nets once he made clear his intentions to become a sports agent. Jay-Z is also under investigation by the NFL Players Association (NFLPA) for breaking the union's new "runner rule", which prohibits agents from having associates who are not NFLPA-certified agents in attendance for recruiting purposes. The NFLPA met with Kim Miale, Roc Nation's new NFL agent, on Wednesday after Instagram photos of Smith and Jay-Z surfaced sitting together a week prior to the rookie signing with Roc Nation Sports.

And with his celebrity profile and glamorous wife Beyonce, Jay-Z's presence in the sports business realm is certain to ruffle the feathers of the established veterans in the game.

"To suggest that somebody is going to walk off the street and say, 'I am a fan, I enjoy sports, so I can do this,' is no different than somebody watching the Discovery Channel and saying, 'I'm a fan of medicine, I like surgery, so I'll start operating on people,'" said renowned Major League Baseball agent Scott Boras to USA TODAY Sports. "This is a profession. It's a different environment. If you're not singularly committed to this game, it's a very ugly song."

Despite some growing pains, business is booming for Roc Nation Sports, with Jay-Z playing an integral role.

"Agents are going to be terrified of Jay-Z. He'll be a legitimate threat," said Maxx Sports & Entertainment founder and former NFL player agent Mark Lepselter to USA TODAY Sports. "He'll be the face (of Roc Nation), the Mariano Rivera of closers."