In the music industry, labels like to give their artists gifts for a job well done. However, in sports, there’s a limit to the type and dollar amount of gifts agents are allowed to give to their clients.
Newly minted sports agent Jay Z, might not be familiar with the rules of the sports agency business which could cause an issue for his Roc Nation Sports. Jay Z presented Yankees client, Robinson Cano with a $33K Shawn Carter Classic Fusion Hublot watch for his 31st birthday.
According ESPN, the MLBPA is investigating whether or not this transaction violates Section 5(B)(5)(a) of the MLBPA regulations that states:
”No Player or Agent or Applicant shall provide, cause to be provided or promise to provide, any money or any other thing of value to any player, or any person related to or associated with such player, the purpose of which is to induce or encourage such player to use or continue to use any person’s or firm’s services as a Player Agent, Representative, or Draft Advisor.”
Gifts are allowed, however if it exceeds $500, it must be disclosed in writing to the union, and that watch is worth north of $30,000.
Keep in mind that when WNBA client Skylar Diggins graduated from college last spring, Roc Nation Sports got her a Benz. Different league, different rules perhaps. And in his musical entity, Roc Nation, gave pop star Rihanna a 911 Porsche for Christmas last year.
It also should be noted that back in the day when music execs gifted artist with cars, it usually was to cover up the lack of dollars they were giving them. Of course, that’s not what’s going on here, but with agents unhappy at the pull Jay seems to have over athletes, anything they can do to discredit him will be dissected with a fine tooth comb.