NBA player Kevin Durant attends a 2023 FIBA World Cup exhibition game between Puerto Rico and the United States at T-Mobile Arena in Las Vegas on August 7, 2023.
Ethan Miller | Getty Images
National Basketball Association superstar Kevin Durant and his business partner Rich Kleiman announced Tuesday the launch of a new consulting practice within the duo’s Boardroom media company.
The Boardroom Advisory company will operate on an annual fee structure and work with athletes as well as executives and brands to create sports ownership and business opportunities, content and more, the company said in a press release .
“What our team has built with Boardroom speaks for itself, and it was born from many of the relationships we have cultivated throughout our journey,” Durant said in the release. “Boardroom Advisory is a natural extension of the brand and a way for us to make our resources available to other athletes.”
The company does not intend to compete with agencies and will work in tandem with athletes’ pre-existing representatives, a Boardroom spokesperson said. The company also does not disclose customer details at the moment. It will rely on its vast network to attract customers.
Durant is one of a large number of superstar athletes to break into the world of sports media and entertainment. NBA rival Lebron James’ video production company SpringHill has been valued at $725 million after the company sold a minority stake to investors. Soccer star Cristiano Ronaldo is one of the world’s richest athletes, whose social media influence earns him millions per post, largely thanks to his billion-dollar lifetime contract with Nike .
Durant and Kleiman founded Boardroom in 2019. The media brand covers the business behind media, sports and music. The company also produces original content. “The Boardroom,” a panel discussion series on ESPN+, ran for two seasons. The Company’s investment portfolio spans over 100 early-stage investments in sports and business.
Durant, a 13-time NBA All-Star and former MVP, played for the Golden State Warriors, Oklahoma City Thunder and Brooklyn Nets. He now plays for the Phoenix Suns. Kleiman is Durant’s longtime manager. The two co-founded 35V (35 Ventures), a sports, media and entertainment company, in 2016.
Business manager Lorenzo McCloud, who worked with Philadelphia 76ers guard and former Durant teammate James Harden, will join the company as director of talent relations.
Disclosure: CNBC has partnered with Boardroom on the Conference Game Plan during the summer.