NBA player Kevin Durant attends a 2023 FIBA World Cup exhibition game between Puerto Rico and the United States at T-Mobile Arena on August 07, 2023 in Las Vegas, Nevada.
Ethan Miller | Getty Images
NBA star Kevin Durant and his business partner Rick Kleiman have announced the establishment of a new advisory firm under their media company, Boardroom.
The firm, called Boardroom Advisory, will offer services on a yearly fee basis, assisting athletes, executives, and brands in creating business opportunities, sports ownership, content creation, and more, according to a press release.
“What our team has accomplished with Boardroom speaks for itself, and it was built on the relationships we have fostered along the way,” said Durant in the release. “Boardroom Advisory is a natural extension of our brand and allows us to bring our resources to other athletes.”
Durant joins a growing list of superstar athletes who have ventured into the sports media and entertainment industry. LeBron James, Durant’s NBA rival, saw his video production company SpringHill valued at $725 million after selling a minority stake. Soccer star Cristiano Ronaldo, one of the world’s wealthiest athletes, earns millions per social media post, thanks in part to his $1 billion lifetime deal with Nike.
Durant and Kleiman founded Boardroom in 2019. The media brand focuses on the business aspects of media, sports, and music, and also produces original content. “The Boardroom,” a series of roundtable discussions on ESPN+, ran for two seasons. The company has an investment portfolio of over 100 early stage investments in sports and business.
Durant, a 13-time NBA All-Star and former MVP, has played for Golden State, Oklahoma City, Brooklyn, and is now with the Phoenix Suns. Kleiman has been Durant’s manager for a long time. The two co-founded 35V (35 Ventures), a sports, media, and entertainment company, in 2016.
CNBC has reached out to Boardroom for comment and more information about potential clients.
Lorenzo McCloud, a business manager who has worked with Philadelphia 76ers guard and former Durant teammate James Harden, will be joining the firm as the director of talent relations.
Disclosure: CNBC partnered with Boardroom on the Game Plan conference over the summer.
