UTA Buys Stake In Sports Powerhouse Agency Klutch Sports Group

UTA Buys Stake In Sports Powerhouse Agency Klutch Sports Group

July 17, 2019

UTA announced a significant investment in the powerhouse sports agency Klutch Sports Group, led by its founder and CEO Rich Paul. Marking a transformative new partnership, Klutch will continue to operate under its own brand and Paul will also become Head of UTA Sports, focusing on building UTA’s sports business for athletes in all their professional endeavors, on and
off the field.

This comes after the agency had a courtship to acquire Paradigm, which ended when Paradigm chief Sam Gores decided to stay independent.

“Rich has built Klutch with the vision, values and entrepreneurial spirit that UTA cherishes,” said UTA CEO Jeremy Zimmer. “By focusing on growing clients’ businesses and putting their interests first, Klutch is built for the modern athlete who wants to thrive at the intersection of sports, media,
music, art and culture. We are thrilled to work with Rich and his team to build Klutch and UTA
Sports into a global powerhouse.”

Klutch Sports was founded in September 2012 in Cleveland, Ohio and has quickly emerged as one of
the most important agencies in all of sports. Its clients include some of the most dynamic basketball
players on and off the court including Anthony Davis, Draymond Green, LeBron James, Ben
Simmons and John Wall. In the last two years, Klutch has negotiated almost $1 billion in contracts,
while expanding to offices in Cleveland and Los Angeles, added two All-NBA clients and three firstround
draft picks. More importantly, Klutch has differentiated itself in the representation business
by continuing to find new and innovative ways to better serve the players they represent. Main Street
Advisors served as Klutch Sport Group’s representative and structured the transaction in
collaboration with UTA.

“We started Klutch because we believed there was a different way to represent players,” said
Paul. We understood the world was changing and how athletes required an entirely new perspective
from their agents. When I met with Jeremy and the UTA team, it was clear to me they were the
perfect partner for Klutch’s next phase of growth. They understand and share our view on the
future of sports and recognize how there is an entirely new way to represent elite athletes. The
innovation, resources and talent at UTA is going to supercharge everything we can do and together,

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