LeBron James has left talent agency CAA, which represented the NBA superstar in negotiating his basketball contracts including the six-year, $110 million deal he signed with the Miami Heat in 2010. James is joining a new sports agency headed by his childhood friend Rich Paul, a former CAA agent who has also departed the agency. The Miami Heat small forward had been represented by CAA's Leon Rose for the past seven years. Paul, whose new company is called Klutch Sports Management, joined CAA in 2008. James, a three-time Mvp, won an NBA title with the Heat last season.
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- 9/13/2012
- by Daniel Miller
- The Hollywood Reporter - Movie News
Updated: I don’t follow the daily ins and outs of the sports agency biz — but I try my best to keep up with powerhouse CAA‘s when it makes headlines. So I’ve confirmed that basketball superstar LeBron James just made another “Decision”: he has left his veteran sports agent Leon Rose at CAA and followed his childhood friend, young CAA agent Rich Paul, out the tenpercentery’s door. LeBron is joining Paul’s new representation boutique Klutch Sports Management based in Cleveland (where James played with the Cavs before infamously jumping to the Miami Heat in 2010). LeBron filed paperwork with the NBA Players’ Association on Wednesday to make it official. Meanwhile, Paul is getting officially certified to become LeBron’s third agent since the forward entered the league in 2003 and now ranks 4th on the latest Forbes’ list of richest athletes. “Paul is a good guy who...
- 9/13/2012
- by NIKKI FINKE
- Deadline Hollywood
CAA has sold a 35% equity stake to private investment firm Tpg Capital in a transaction expected to help the powerhouse talent agency further build its sports business and monetize the stakes of the partners who own and run the business.
Tpg has invested an undisclosed sum for the stake, which does not include any control over the agency. In addition, Tpg will create a $500 million fund for future investments, the agency announced Friday.
As part of the deal, founding partners Bryan Lourd, Richard Lovett, Kevin Huvane and David O'Connor have signed new five-year contracts.
"We have known and respected the leaders of Tpg for a long time and believe this strategic partnership marks a new starting point for the agency's future," CAA president Lovett said in a statement.
"CAA is the clear leader within its industry and the talent agency most trusted by successful actors, directors, writers, producers, musicians and athletes,...
Tpg has invested an undisclosed sum for the stake, which does not include any control over the agency. In addition, Tpg will create a $500 million fund for future investments, the agency announced Friday.
As part of the deal, founding partners Bryan Lourd, Richard Lovett, Kevin Huvane and David O'Connor have signed new five-year contracts.
"We have known and respected the leaders of Tpg for a long time and believe this strategic partnership marks a new starting point for the agency's future," CAA president Lovett said in a statement.
"CAA is the clear leader within its industry and the talent agency most trusted by successful actors, directors, writers, producers, musicians and athletes,...
- 10/1/2010
- by By Alex Ben Block
- The Hollywood Reporter - Movie News
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