Ron Berkowitz, a spokesman for Jay Z's newly formed sports agency Roc Nation Sports, confirmed the news to ESPN.com's Darren Rovell.
Update: By Ethan Norof at 2:30 p.m. ET:
Not only is Jay-Z a certified NBA agent, but MLB has also approved him as well, Rovell confirmed. It's fair to say that the icon lives the lifestyle of a real mogul.
--End of Update--
It's still unclear exactly when he can start representing players. He still has not gotten around to selling his minority stake in the Brooklyn Nets, per Rovell's report, but he's already making an impact on the hoops world. Oklahoma City Thunder star and three-time scoring champion Kevin Durant has reportedly already aligned himself with Roc Nation Sports.
Although his agency is still in its infancy stage, the hip-hop mogul's clientele already features a number of notable names. New York Yankees second baseman Robinson Cano, New York Jets rookie quarterback Geno Smith, and Tulsa Shock guard Skylar Diggins have all signed with the firm.
Where Roc Nation Sports goes from here is anyone's guess. But sports icons are flocking to him like his rabid fans, as few understand the importance of branding like the Brooklyn native.
Music propelled him to national fame, but that's far from his only interest now.
Roc Nation has its own music division, featuring hit-makers like Rihanna and Shakira, among others. His other business ventures have included launching fashion lines, investing in Carol's Daughter beauty products, owning a string of upscale sports bars called the 40/40 Club, and he once served as the president of Def Jam Recordings.
He's not a businessman, he's a business, man.