Are sports management companies the next big trend in hip hop?
According to sources, Cash Money Records may be following in Jay Z’s footsteps and launching a sports agency of their own in the new year.
“The famed record label — home to Lil Wayne, Drake and Nicki Minaj, to name a few — has filed a legal request to trademark the name Visionaire Sports Group,” XXL reports. “The documents indicate that Cash Money has the intent to use the name, but probably has not yet done so; before the trademark comes into effect Cash Money will have to provide proof that they are using it in the way intended.”
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The trademark request filed October 25 covers the following: “Sports agency services, namely, management, representation and promotion of professional athletes; promoting sports competitions and/or events of others; promoting the goods and services of others by arranging for sponsors to affiliate their goods and services with athletes; talent agencies; arranging personal appearances by persons working in the field of sport; business management of sports people; talent recruiting services in the field of sports; talent management services for professional athletes; career management services for persons employed in the sports industries.”
Word on the street is Visionaire Sports Group has already teamed up with Mississippi-based agency Pay 2 Win Sports, Inc.
In related Jay Z news, a new survey concluded that millennials – people born roughly between 1980 and 2000 — do not trust the Brooklyn rapper for a variety of his business decisions.
According to research by celebrity branding expert Jeetendr Sehdev, Hov’s brand lacks “authenticity.”
“Millennials question the exact nature of Jay Z’s role in the artistic process,” Sehdev told Business Insider. “Does he really write his own songs? Is he choosing the artists to collaborate with, or is he just the face of a money-making empire? … Millennials questions his approach to loyalty, whether it be to a business deal or his fans. His motivations to just make money can be viewed by this audience as self-centered, even if they may be business savvy.”
So what was Sehdev’s recommendation for Jay? “I believe Jay Z is going to need more exposure of his true self, meaningful partnerships, and true philanthropic efforts to get back into the good books of Millennials,” he said.
Do you agree? Weigh in with your thoughts in the comment section below.
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As Jay Z Loses Credibility With Fans, Cash Money Records Competes With Sports Management Company was originally published on hellobeautiful.com