Rich Paul sold a stake of his agency Klutch Sports to the Hollywood agency UTA today, as Marc Stein of the New York Times first reported in a story worth reading. While the price and stake amount of the sale were undisclosed, LeBron James sent the following tweets shortly after the announcement:
It should be noted that LeBron did not have an ownership stake in Klutch; that would not be allowed by NBA league rules while he is currently a player. On a 2017 podcast, Brian Windhorst said that the NBA investigated whether LeBron had equity in Klutch and determined that he did not.
However, it would not be unreasonable to believe that LeBron James and Rich Paul intend to buy an NBA team, either together or perhaps even separately. Here was Paul broaching the subject extemporaneously last week in an interview with SiriusXM NBA:
Asked if he would want to run an NBA team later in his life, Paul answered, “No, not run one — maybe buy one.”
It shouldn’t surprise anyone if LeBron and Rich Paul join the NBA ownership ranks when LeBron is done playing basketball.