Rapper Lil Wayne is diversifying his business interests with an investment in a sports agency and his first big client is going to be among the biggest names in worldwide sports, according to TMZ.
The Hollywood gossip site reports that the Lil Wayne sports agency has signed Cristiano Rolando as its first client.
TMZ said Lil Wayne’s sports agency, which thus far does not have a name, will handle the World Cup star’s United States business affairs:
“Our sources tell us… Weezy has been wanting to get into the sports management game for a while and has had his sights set on the Team Portugal stud… not just because he’s a huge sports star, but because they’re friends.
“We’re told Weezy’s company will be working with PolarisSports — which is affiliated with the CAA agency and GestiFute — through which Ronaldo’s agent Jorge Mendes operates.
“Our sources tell us Wayne’s company will handle Ronaldo’s sports management affairs in the United States — everything from branding to marketing and endorsement deals. Even modeling.”
While the name of Lil Wayne’s sports agency has not officially appeared in contracts or in public, a Forbes article notes that his company was conducting due diligence on entering the sports agency business while fellow rapper Drake was also looking to enter the business, going so far as to file for trademarks.
“On October 25, 2013, Cash Money Records, Inc. (Drake’s music label) filed a trademark application with the U.S. Patent and Trademark Office in an effort to eventually receive registration for the mark ‘Visionaire Sports Group.’ The filing was made to protect ‘Visionaire Sports Group’ when used in connection with ‘sports agency services, namely, management, representation and promotion of professional athletes; business management of sports people; talent recruiting services in the field of sports’ and other sports-related ventures. The trademark application was filed on an intent-to-use basis and has not been supplemented with a specimen to demonstrate that the ‘Visionaire Sports Group’ name is being used in commerce.”
Lil Wayne and Drake’s entrance into the sports agency arena represents just the latest example of a rapper diversifying his business interests.
Rapper Jay Z has long had interests in everything from apparel to sports agencies and was a minority owner of the Brooklyn Nets, playing a crucial role in moving the team from Newark to downtown Brooklyn in 2012. It was the first time a professional sports team had taken up residence in the New York bureau since the Dodgers left for Los Angeles some 50 years prior.
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