Klutch Sports, the wildly successful agency that represents some of the biggest professional athletes in the world, has partnering with trading platform Robinhood as it aims to branch out into sports and entertainment.
Paul, who has acted as LeBron James’ agent for many years, will join step on as a strategic advisor to Robinhood as it lays plans to make the expansion, working closely with Robinhood CEO Vlad Tenev to spearhead new opportunities.
“We’re massive sports fans at Robinhood and we know our customers are as well,” Tenev told CNBC. “Working with Rich and the team at Klutch Sports, it’s really a way to get the Robinhood brand out there to a wider audience and partner with athletes and organizations that are aligned with our customer needs.”
“I look forward to helping guide Robinhood as they broaden their reach into new markets and spaces,” Paul said in a statement.
Per the outlet, Paul’s team at Klutch has already connected Robinhood executives with teams, owners and athletes as the company aims to tap into other areas besides finance services. For instance, as CNBC points out, Klutch helped broker a three-year jersey patch deal between Robinhood and the National Basketball Association’s Washington Wizards in last fall.
“He built up his business and his brand from nothing — from selling vintage jerseys in the Akron airport,” Tenev said of Paul. “When you think about what Robinhood represents, it represents access and entrepreneurship.”
Ever the innovators, this partnership is just the latest smart move from Klutch. Last year the brand signed Chase Young, a then 24-year-old who made history after becoming the first American Football athlete for New Balance.
“The best way to [create] impact is through community,” Paul said. “We wanted to connect to culture, be accessible and affordable, and be in community, so having New Balance as a partner set us apart and expedited our path.”
