Klutch Sports and United Talent Agency have joined forces to create a sports division. Klutch will retain its own branding as part of the alliance.
Rich Paul is the chief executive of Klutch and represents LeBron James, Anthony Davis, Ben Simmons and others.
“We’ve been looking for the right sports opportunity for quite a while,” said Jeremy Zimmer, the talent agency’s chief executive. “We have taken a significant stake in Klutch, but Rich retains very substantial controls because we want it to be his business and we love what he’s doing.”
Neither side would divulge the amount of the stake, but Paul said “nothing changes” in terms of how Klutch’s basketball business operates and that the investment will enable him “to go out and further build Klutch.”
UTA represents Angelina Jolie, Kevin Hart and others.
Creative Artists Agency and William Morris Endeavor, the two main rivals of UTA, already have sports divisions.