OJ MAYO: The Professional Lives of Amateur Athletes

Part 1
Money is not corrupting influence on today's top amateur athletes. Obviously, I am lying. This is the exact same thing that the NBA is doing when it argues that OJ Mayo should go to college to prepare himself for the NBA. There will always be another O.J. Mayo that is surrounded by agents and their affiliates from the time that they are recognized for their unique talents. These agents will attempt to lavish gifts and cash in order to establish a relationship with these athletes in the hopes of representing these athletes when they go pro. It is safe to say that the biggest factor in O.J. Mayo enrolling in college was e because of the rule changes enacted by the NBA that players must complete one year of college before declaring themselves eligible for the NBA draft. NBA basketball is a billion dollar business. NBA basketball players earn millions of dollars. Agents that represent NBA athletes can earn millions in fees from NBA contracts, licensing deals and endorsement contracts. Every NBA athlete may dream of being as marketable as Michael Jordan. Today, the NBA has two of its biggest and most marketable stars, Lebron James and Kobe Bryant as examples of athletes that did not attend college. O.J. Mayo may one day be
be among the most marketable NBA athletes and the controversy surrounding him whether or not he was paid or received gifts while he was an amateur will be a distant memory.

Many top amateur athletes face hard decisions. They are young and impressionable. Some NBA agents and their affiliates, which are commonly known as runners embark upon establishing their ties with the top athletes at the earliest age possible. In fact, some of these agents attempt to buy loyalty of these athletes by spending money on associates that are close to these athletes to influence them to select the agent as their representative. It is no secret that many of these elite basketball athletes are from single parent homes where their athletic talent is relied upon to save the entire family from future economic hardships. O.J. Mayo was aware that his family's hopes rested upon him. Undoubtedly, he would have never been embroiled in this controversy if not for the NBA rule change. Herein lies the problem. Athletes should be able to turn pro at the age of 18. However, parents must make smarter choices about who is associating with their children. Arguably, most agents put their self-interest over the goals and aspirations of the athlete. Many athletes will need to attend college to mature and improve their basketball skills. Yes, I believe that some college coaches understand that the education of the athlete is important and many young people need this support from coaches and educators.

O.J. Mayo - ESPN OTL's Investigation of NCAA College Basketball Superstar for USC and Likely NBA Lottery Pick

Live Nation challenges the Status Quo Business Model in the Music Business

Live Nation is trying to do something unprecedented in the music business, negotiate music partnerships with music artist that go beyond recorded music. Jay-Z, Madonna, and U2 have all signed deals with Live Nation. Jay-Z and Madonna's deal consists of majority share of all future music and music-related businesses including albums, concert tours, merchandising, fan club/web site, DVDs, music-related television and film projects, and associated sponsorship agreements that includes clothing, perfumes, etc. U2, has long been one of the biggest globally recognized bands and one of the highest grossing concert revenue. The band signed a 12-year deal with Live Nation Artists that includes worldwide concerts, merchandising and the band's Web site, U2.com. Last year, Live Nation signed Madonna to a ten year global partnership for $120 million dollars. The current Jay-Z deal is worth $150 million dollars. Live Nation is the largest producer of music concerts and is seeking to become one of the largest companies in the music entertainment industry.

Jay-Z and Live Nation close to Signing $150 Million Dollar Deal: New Music Business Modell

Jay-Z, the highly successful rapper and entrepreneur is embarking on a landmark music business deal with Live Nation for $150 million dollars. Live Nation is a music concert promoter that has recently signed deals with major music stars Madonna and U2 for a share of concert revenues, digital music sales, and publishing. Jay-Z will receive an advance of $25 million for his own imprint and $10 million dollar advance for each album, which will total three albums under the deal and $25 million for concert performances. In addition, Jay-Z will receive around $20 million for music publishing and licensing rights according to the New York Times. One of the most ground breaking part of this deal is that Jay-Z will receive $25 million earmarked for clothing ventures. It is unclear whether Jay-Z will have ownership of the master recordings as he does for his former music recordings with Def Jam Records. Before Jay-Z can record music for Live Nation, he must complete one more studio album for Def Jam.

This lucrative deal will certainly impact the landscape of the music business as other artists will be carefully studying the blueprint of this deal. One potential marquee name is 50 Cent, who may be looking to secure a mega deal for his G-Unit brand after completing one more studio album for Interscope Records. Certainly, Live Nation, a spin off Clear Channel Communications is seeking to become a major player in the future business model for the music industry and this Jay-Z deal is one step forward to achieving that goal.

Smashing Pumpkins Sue Virgin Records -Licensing Issues

The Smashing Pumpkins sued record label Virgin Records for unauthorized use of their music in promotional deals with "Pepsi Stuff"along with Amazon.com. The band states that the unauthorized use of their music in those marketing deals hurt their credibility and artistic integrity with their fans. According to the lawsuit, Virgin Records has the right to sell digital downloads of the Smashing Pumpkins' music but this right doesn't extend to licensing their music for commercials and advertisement deals.

It is important to note that most music companies would not have the right to license music for commercial promotional deals without an express contractual clause granting them permission or the music company would also have to be the owner of the publishing company for the artists song catalog.

Jackson Five Lost Fortune

Michael Jackson's brothers, the Jackson Five, are struggling to survive according to an exclusive story by the New York Post. The former multimillionaires have hit hard times. The brothers that had everything stardom could afford from million dollar homes and Rolls Royces have now moved back into their parents home. Just how far did the Jackson Brothers fall?and waiting for charity from Michael and Janet Jackson. It is hardly fathomable how far they could have fallen from their heyday of million dollar concert performances. The common causes of the lost of wealth and fortune are bad advice, bad investments, expensive divorces, and an over indulgent lifestyle. Unfortunately, most entertainers and athletes are great at their professions but fair poorly at managing their fortunes and personal lives. It is often easier to amass wealth then to keep it. The Jackson Five serve as an example of how fleeting fame and fortune can be if not carefully managed.