Beats Electronics enthusiast LeBron James seen with co-founders Jimmy Iovine and Andre (Dr. Dre) Young.
Hip Hop has had a longstanding relationship with basketball dating back to the 90s. Between the fashion trends, music and relationships often forged between the two industries, the two seem to go hand-in-hand culturally.
Many NBA athletes have tried their hands at making rap albums: Chris Webber, Allen Iverson, Kobe Bryant, Ron Artest, Tony Parker, Stephen Jackson, Troy Hudson, Joe Smith and Iman Shumpert stand out among those who have made actual albums or mixtapes. Chief among them all is Shaquille O’Neal—who has had the most success—with a gold and platinum record among his FOUR studio albums.
Even Atlanta Hawks sixth man Lou Williams made a guest appearance on a Meek Mill mixtape.
Portland Trail Blazers All-Star point guard Damian Lillard started a trend this season taking to Instagram to record and share four bars of lyrical rhymes with peers and fans known as #4BarFriday.
Friday, news began circulating among NBA players that Apple Inc. is close to completing the purchase of Beats Electronics, founded by famous rap icon Andre (Dr. Dre) Young and majority partner and Interscope Records co-founder Jimmy Iovine. The sale price?
A whopping $3.2 billion.
The news has been reported by Forbes, The New Yorker and XXL Magazine, among other outlets. While both of the business news articles report that the purchase has yet to close, Rap magazine suggests that it’s a done deal, citing a YouTube video featuring R&B singer and actor Tyrese Gibson touting Dr. Dre as Hip Hop’s first billionaire.
Dr. Dre confirms Beats sale to Apple and boasts he’s the first billionaire in hip-hop http://t.co/W3FQCIEz1H
— XXL Magazine (@XXL) May 9, 2014
Many NBA athletes have been talking about the sale on social media.
It all started with a dream… Now beats sold for 3.2 billy!!! #thecomeup… http://t.co/KF5Ypqrtpr
— Ty Lawson (@TyLawson3) May 9, 2014
3.2! Compton…
— DeMar DeRozan (@DeMar_DeRozan) May 9, 2014
Dr dre wins again
— Brandon Rush (@BRush_25) May 9, 2014
Dr. Dre…..
— Quincy Miller (@qmillertime) May 9, 2014
Not bad Dr. Dre, not bad … pic.twitter.com/4HDVtr15tw
— Tobias Harris (@tobias31) May 9, 2014
3.2 billion bruh
— Kendall Marshall (@KButter5) May 9, 2014
Dre just sold Beats for 3.2B to apple. Lol he just made a huge come up. But the real question now is what does apple have up it’s sleeve .
— Shane Larkin (@ShaneLarkin_3) May 9, 2014
DR. Dre, need I say more!!! #gogetit
— Jim Jackson (@BTNJimJackson) May 9, 2014
Even NBA 2K pitchman Ronnie 2K chimed in on the sale with a unique 2K twist.
Dr. Dre is about to make 12.8 Trillion Virtual Currency (3.2 Billion Dollars) selling @beatsbydre to Apple.
— Ronnie 2K 2K14 (@Ronnie2K) May 9, 2014
As Forbes notes, Young’s share of Beats Electronics is only something between 20 to 25-percent. As such, the sale would boost his personal net worth to something closer to $800M after capital gains taxes.
Still, such a sale and its subsequent boost to his overall net worth may have important implications among NBA circles. Why?
Considering the potential future sale of the Los Angeles Clippers—a team near Dr. Dre’s hometown of Compton, and the fact that he has thrown his name in the hat as a possible buyer, this corporate takeover may have huge financial implications to his viability as a legitimate future NBA team owner.
There are still a lot of variables yet to work themselves out, but the day that hip hop and professional basketball become joint business ventures in the form of the Los Angeles Clippers may soon be upon us.
Better prepare for that Blake Griffin album to drop in 2015 on Aftermath Records.
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Michael Brumagin writes the Tweet of the Day for SheridanHoops.com and is also a correspondent for BleacherReport.com. Follow @mbrumagin