By Richard Johnson
- Jay-Z joins hands with Blackstone on a deal to buy Certified Collectibles Group
- The Global Sports Trading Card Market is projected to reach $87.7B by 2027
As much as I want to say HOV is “at it again”, Jay-Z’s continued investment deals have become the Roc Nation’s founder’s new norm. The hip-hop business mogul has joined hands with Blackstone, the world’s largest alternative investment firm on a deal to buy Certified Collectibles Group (CCG), which grades and verifies collectible items including comic books, magazines, stamps, banknotes and trading cards, for a flat-fee or a percentage of the item’s value. CCG estimates it has certified more than 60 million of these collectibles, which is why Blackstone has agreed to acquire a majority stake in the company, valuing it at more than $500 million.
Why This Matters: Jay-Z will be an investor in the transaction along with Miami Heat forward Andre Iguodala, Daryl Morey, President of Basketball Operations for the Philadelphia 76ers, Main Street Advisors, a leading investment advisory firm to prominent athletes, recording artists, and other entertainment leaders, along with others. To put this joint-venture into perspective, the Global Sports Trading Card Market was valued at $13.8 billion in 2019 and is projected to reach $87.7 billion by 2027.
With an increase in the number of trades, there also comes an increase in demand for authenticating each item to ensure a fair transaction is taking place. Earlier this year, a LeBron James 2003-2004 autographed card set an auction record for most expensive card ever sold, at $5.2 million. The market is only becoming more lucrative because just this month a super-rare basketball card produced 40 years ago with Larry Bird, Magic Johnson and Julius “Dr. J” Erving is on the auction block and could rake in over $500,000.
Situational Awareness: I’m sure there’s some folks reading this now that regret putting their million-dollar card in the spokes of their bicycle. Either way, Jay-Z’s major moves have cemented the fact that he will never have to reintroduce himself, his name is HOV! H to the O-V. Well done Mr. Carter!
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