Robinson Cano Hires Jay-Z's Roc Nation Sports Agency

Jay-Z is not merely a businessman. He's a business, man.

The hip hop mogul has added a sports representation firm to his diverse pursuits. On Tuesday, New York Yankees slugger Robinson Cano announced that he has hired Roc Nation Sports, a new sports management company founded by Shawn Carter, also known as Jay-Z.

That hire means that Cano will be cutting ties with noted sports agent Scott Boras as he enters the final season of his current $57 million, six-year contract with the Yankees. The Cano signing coincided with Jay-Z announcing his entrance into sports representation. Roc Nation Sports will operate in partnership with Creative Artists Agency (CAA) and will co-represent Cano, according a statement at the Roc Nation Sports website.

Because of my love of sports, it was a natural progression to form a company where we can help top athletes in various sports the same way we have been helping artists in the music industry for years, said Jay-Z in that statement.

Jay-Z intends to become a certified sports agent , according to sources who spoke with Buster Olney and Darren Rovell of ESPN.

Cano tweeted a picture of himself signing his agreement with Roc Nation.

"At this point in my career, I am ready to take a more active role in my endeavors on and off the field," Cano said in a statement released by CAA, via The New York Daily News . "I am confident that the pairing of Roc Nation Sports and CAA Sports will be essential in helping me accomplish my short- and long-term goals. I am making this important decision now so I can keep my focus on helping the Yankees succeed in 2013, while minimizing any distractions for me and my teammates."

As Andy McCullough of The Star-Ledger noted, Cano is the third Yankees player to part ways with Boras. According to the Roc Nation release , Cano will actively be represented by CAA Sports Brodie Van Wagenen. Chris Chase of USA Today Sports notes that Van Wagenen clients have historically been likelier to sign contract extensions as opposed to hitting the open market.

Could this pairing of Cano and Jay-Z be good news for Yankees fans who hope to keep the second baseman in pinstripes?