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The Perks — And Payoff — For Artist Team Owners
Many sports teams have ownership investments by star artists, including Justin Timberlake and Usher.
“It checks a lot of the boxes — [she] is from the city, a fan of the sport, a woman, a member of an iconic group,” says Jonathan Azu, founder and CEO of Culture Collective, which manages Williams. Perhaps the best-known artist-turned-team owner is Jay-Z, who spent $1 million on a small stake in the NBA’s Nets in 2004, helped move the franchise from New Jersey to his native Brooklyn, then divested from the team in 2013 to avoid a conflict of interest with his Roc Nation Sports agency. When Timberlake, whose investing group owns a reported 2.8% of his hometown NBA team, the Memphis Grizzlies, played camera operator at home games, Sports Illustrated covered the story.
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