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Jay Z’s Roc Nation Sports parts ways with CAA

By
Claire Atkinson
Published Feb. 10, 2015, 5:07 p.m. ET

Jay Z’s Roc Nation Sports is parting ways with talent agency CAA after having worked together for two years.

The companies are going their separate ways as their two-year deal ends, they said in a statement on Tuesday.

“Roc Nation Sports and CAA Sports have recently concluded their two-year partnership. Roc Nation Sports and CAA Sports are two of the premier agencies and they will continue their high levels of client service to the world’s top athletes,” according to a statement.

“Going forward, they will each focus their efforts on their own business opportunities and clientele.”

The companies share several high-profile athletes, including the Seattle Mariners’ Robinson Cano, the Oklahoma City Thunder’s Kevin Durant and the New York Giants’ Victor Cruz, according to Sports Business Journal, which first reported the news.

“If you’re any type of client, the smart thing to do is to stick with the most powerful agencies, CAA and IMG,” said Robert Tuchman, president of GoViva, a sports marketing agency. “It’s much harder for people who are trying to build a business on their own by representing two or three people.”

Under the partnership, Roc Nation Sports — a division of Roc Nation — took the lead in getting marketing and sponsorship deals, while TPG-owned CAA handled the athletes’ player contracts.

It’s unclear what led to the split, although sources suggested that Jay Z’s growing sports agency had become too competitive with CAA.

Rumors surfaced late last year that top NFL super-agent Tom Condon was quitting CAA and heading to Jay Z’s shop.

The move hasn’t happened — but signaled, perhaps, a coming of age for Roc Nation Sports.

Condon was named the No. 3 most powerful sports agent in the world in 2014 by Forbes. He has $1.29 billion in contracts under management.

The world of sports representation is seeing heightened competition and a flood of new entrants.

For instance, Hollywood agency WME bought college sports powerhouse IMG, while movie studio Relativity has also been making a name for itself in athlete representation.

The entire sports world — from Little League baseball up to the NFL Super Bowl — is at the white-hot center of popular culture.

Sports rights are commanding huge fees. On Tuesday, for example, UK’s Premier League signed a new TV rights deal for $8 billion — a 70 percent rise over the previous pact.

That cash is trickling down to the athletes.

For executives like Jay Z, sports is a clear focus of growth as music sales wane.