dhacker29 has been working with the Nexus Player & has an unofficial CM rom & recovery for it. Check out the link for details. I'm going to give this a try when I get back home. If you try this, let me know you experience
Unofficial CM-12.1 for Nexus Player fugu Nexus Player XDA Forums
Tapped from a Nexus 6
Unofficial CM-12.1 for Nexus Player fugu Nexus Player XDA Forums
Tapped from a Nexus 6