Jay Z's Bad Business Deals

^ And things like this will keep happening to him because he's too stupid to realize that he can't get away with skipping steps and cutting corners in other industries the way that he has in music.

@12:16 From long time lurker said...
@12:16 Very true, a few calulated rumors constantley dropped by PR to a few blogs and most of the stans automatically believe it. You can pretty much turn fantasy into reality into the minds of clueless consumers who are just sheep.

A good example is everyone thought Jay Z owned the Nets untill exposed by the New York post to have ownership of less than 1 percent. Jays ego is too big, case in point , the CAA relationship soured very quickley he wanted to bypass the leagues rules with a little effort and less Ego as you said ...things could have turned out
much better.

- lurker

So which story should we believe?

Recently, rapper Jay Z fancied himself a sports agent and manager, but things are not going the way he planned. Jay Z, real name Shawn Carter, started Roc Nation Sports and signed three athletes. He also inked a deal with powerhouse company CAA, as leagues were creating rules aimed at keeping the dangerously ignorant novice out.

After 2-years, CAA has broken ties with Roc Nation Sports, dropping the company as an inexperienced start up that is a liability. Jay Z does not have the manpower, experience or intellect to be a sports manager and or agent and is experimenting with people's careers. Jay Z is dispensing bad advice and promising athletes the world, in claims he is not equipped or able to deliver.

Recently, several top boxers turned down Jay Z's offers to join Roc Nation (Adrien Broner, Deontay Wilder and five other top pugilists). Many other athletes in several sports have passed on the company as well. It is a vanity project with no real foundation. You can't play with people's careers like that, especially in sports, where athletes have a limited time frame to achieve their dreams and secure their finances.

Jay Z has helped to destroy the music industry with illegal tactics such as criminal copyright infringement, payola, chart rigging and sales scams to inflate record sales which were caught and condemned by Soundscan (nevermind he's still doing it). Music industry sales are at an all time low. Now mentally deficient Jay Z has greedily turned his attention to the sports industry and has been illegally operating outside the rules of several leagues. This is a poor and disgraceful business model only employed by criminals and will undoubtedly do damage to the sports industry as well.

The New York Post quoted Robert Tuchman of GoViva sports marketing, who stated of the CAA and Roc Nation split, "If you're any type of client, the smart thing to do is to stick with the most powerful agencies, CAA and IMG. It's much harder for people who are trying to build a business on their own by representing two or three people."

This is something the Judiciary Report has emphasized in past articles regarding hiring experienced, established managers and agents (What Managers, Coaches And Trainers Look For In Athletes and Adrien Broner Apologizes To Jay Z And Rihanna For Profane Tirade But Does Not Retract His Claims About Them and In Boxing The Right Team Can Make All The Difference In The World).

Don't unintentionally damage your career by hiring an inexperienced upstart, who does not know the business. This is your career, which impacts your life and finances. Don't mess with it hiring inexperienced, greedy people seeking to exploit you for financial and social gain. You only have a few set years playing sports. Hire the best manager and agents you can, who have the most legitimate contacts and connections with big corporations, to maximize your revenues and expand your brand.
From TJReport

Sorry Eljjai, I didn't see that u had already posted the same comment. I was in such a hurry that I didn't read all the comments.

Dang, how the hell did we miss that one?
Oh I know how...The Carters PR firm diverted our attention away from this failure and placed our focus on that phantom $56 million dollar music streaming deal.

It just goes to show how many blogs are on the Carters payroll. And now Vincent Cruz, Kevin Durant and Robinson Cano are stuck between two sports agencies instead of one. Dummies!

aparently the real sports management firm kept all the talent. so those guys are good. Only person with something to worry about is Jay Z. He's made another dumb business move and his name is in the mud again.

^Yet they upheld this man to this imaginary threshold. Like he is above qualifications/accolades because of his name. You can tell these kids nothing when it comes to making sound decisions on becoming successful. Cutting corners and bypassing the essential steps are the"roots" because 'Hov' implemented it. Sad.

Flames->Smoke and mirrors-> then fogs.

Found this comment on RWS. Person broke it down.

"Jay-Z may have an infinite amount of street smarts, but in order to work as an agent or associate his Roc Nation management company with any player in the league, Hov may need to pass a test. According to Jason Cole of Yahoo Sports, the NFL has no problem with the current situation going on between Jay-Z and Victor Cruz, however, if the rapper does decide to pursue other clients in an attempt to lure them onto the Roc Nation Sports/CAA team, then Jay is going to need to take a test to become an certified NFLPA agent.

And that's not all. Jay will also need to get certified by the NFL Players Association (NFLPA), pay a non-refundable fee which is likely over $1,000, submit to a background check and take that test which will test his knowledge on the league's Collective Bargaining Agreement and NFL contracts. Wait, there's more. He will also need to show that he has a postgraduate degree or at least seven years of negotiating experience. "

On jays shady business deals which that flopped

40/40 Club:
- Clubs in NYC, Atlantic City. The Las Vegas club, at 24,000 square feet, opened in the hotel-casino Palazzo in January 2008, with more than 80 plasma TVs. It closed eight months later when, after disappointing traffic, Jay-Z sold the lease back to the hotel. It was tuned into a race and sports book, with a specialty restaurant.

NJ Nets:
-Paid $4.5M in December 2004 for a minority stake in the team. Sale price of $300M means he owns 1.5%. Forbes valued the team at $269M this season, down 9% from the previous season. Operating deficit of 13.9M. In 2004, Team owner Bruce Ratner said he wanted to have team in Brooklyn for the 2006-07 season but 2012 looks more promising.

Gain Global Investments Networks:
-Company owns a 7 percent stake in the group that was chosen and then lost a deal to develop a Racino at Aqueduct Racetrack. Jay-Z owns a 28.6 percent stake in AEG.

NYC Real estate:

345 West 14th St.: part of a group that borrowed $30M to buy Meatpacking District building for development. Plans went south during recession. Sold loan for $19.5M.
510 West 22nd St.: In August 2007, a company he controlled borrowed $52M to purchase the land in order to develop a luxury J Hotel. Walked away from the project and loan during the recession. Sued lender, Highland Capital, for “bleeding” him of interest payments.

I posted a link, they are many many more, I noticed you didnt mentioned all the rule violations, all the investigations, the issues with Rocs conduct during the entire two years. For evey story you find thats makes things seem peachy between the two I can find a story the shows the drama.

Roc sports cannot operate as its own entity, they will need another CAA. Roc will never be a stand alone Agency period

And the split happened some time ago, regardless of the reason it was buried and hush on Blogs that Blow up everything Jay does as some Billion dollar move. Yet things are hush when he flops

Vegas 40/40 closed hush
New Jersey 40/40 closed hush
Health Inspection Violation and fines and the New York 40/40 hush
Carrols Daughter Folded hush

J Hotel deal Flop mutlimillion Dollar lawsuit hush

Jay Z scubbed from Cognac( Dusse ) makers website and quietly dropped and as represenative of the drink hush

CAA drops Roc Sports hush"

LOL jay swear he's business savvy. This man half steps everything he does, it doesn't surprise me that half of his biz team left him bc of not being paid well etc.

"Despite the rhetoric, Tidal isn’t a revolutionary new way of streaming music and distributing wealth to the artists. The declaration, the videos, the tweets, Madonna straddling the table — it’s all to obscure the fact that Tidal is a company owned not by ‘the artists’, but by ‘some artists’. Kind of like the way Communist Russia was ostensibly run by and for ‘the people’, but was actually controlled by a small executive group which consisted of ‘some people’."

Read more at junkee.com/jay-zs-marketing-campaign-for-tidal/54422#5p2ZIZjoxqEPOBdw.99

Is Jay-Z Secretly Profiting Off Crappy Champagne?

www.vulture.com/2011/03/is_jay-z_secretly_profiting_of.html

I'll put this here now because I have a feeling that it's going to flop

www.rhymeswithsnitch.com/2015/04/jay-z-hosting-las-vegas-fight-night.html

For $50K you probably get 7 bottles of Camel's booze and unlimited salmonella wings leftover from the 40/40 club; the commoners paying $100 or less are probably getting tap water and expired Lunchables.

Omg, missy !

I wonder how much money fo they really owe. I wonder what will happen if they end up owing close to a billion dollars