United Talent Agency, the Hollywood firm that represents Angelina Jolie, Harrison Ford and Will Ferrell, is pushing into professional sports in a deal with LeBron James’s agent.
Rich Paul’s Klutch Sports represents James, Anthony Davis and several other NBA superstars. UTA, which has long wanted to compete in sports with Creative Artists Agency and Endeavor, made a “significant investment” in Klutch, the companies said Wednesday. They didn’t provide more specific terms.
Klutch will continue to operate under its own name, while Paul, a childhood friend of James, will become head of UTA Sports, focusing on building the business for athletes on and off the field.
“Rich has built Klutch with the vision, values and entrepreneurial spirit that UTA cherishes,” UTA Chief Executive Officer Jeremy Zimmer said.
The tie-up marries Paul with Hollywood as James, a star with the Los Angeles Lakers, continues his push into media and entertainment. He founded SpringHill Entertainment with childhood friend Maverick Carter.
Klutch, founded in 2012 in Cleveland, has negotiated almost $1 billion in contracts. Until now, UTA’s work with athletes was focused off the field. Its clients include Olympic gold medalists Shaun White and Tara Lipinski, and retired NFL player Rob Gronkowski.
This article was provided by Bloomberg News.
