Kevin Durant's Boardroom Launches Entertainment and Sports Advisory Firm
NBA superstar Kevin Durant, along with his business partner Rick Kleiman, has announced the launch of a new advisory firm under their Boardroom media company. The newly formed firm, Boardroom Advisory, will operate on a yearly fee structure and provide services to athletes, executives, and brands in creating business and sports ownership opportunities, content, and more, according to a press release. Durant expressed that Boardroom Advisory is a natural extension of the brand and a way to share their resources with other athletes. The launch of this firm follows the trend of superstar athletes venturing into the sports media and entertainment industry, such as LeBron James with his video production company SpringHill and Cristiano Ronaldo with his lucrative social media influence.
Durant and Kleiman founded Boardroom in 2019, a media brand that focuses on the business aspects of media, sports, and music. The company also produces original content, including the ESPN+ series "The Boardroom," which featured roundtable discussions and ran for two seasons. With an investment portfolio that spans over 100 early-stage investments in the sports and business space, Boardroom has established itself as a prominent player in the industry.
As a 13-time NBA All-Star and former MVP, Durant has played for teams like the Golden State Warriors, Oklahoma City Thunder, and Brooklyn Nets. Currently, he is a member of the Phoenix Suns. Kleiman, on the other hand, serves as Durant's long-time manager. Together, they co-founded 35V (35 Ventures), a sports, media, and entertainment company, in 2016.
In addition to the launch of Boardroom Advisory, the firm has announced that Lorenzo McCloud, a business manager who has worked with NBA player James Harden, a former teammate of Durant, will join as the director of talent relations. CNBC has reached out to Boardroom for further comment and information on potential clients. It is worth noting that CNBC previously partnered with Boardroom for the Game Plan conference held over the summer.
Implications for New Businesses: A Hot Take
The launch of Kevin Durant's Boardroom Advisory firm signifies the increasing overlap of sports, entertainment, and business. This trend could have significant implications for new businesses, particularly those operating in these sectors.
Challenges and Opportunities
New businesses may face increased competition as more established brands and celebrities, like Durant, enter the market. However, these developments also create opportunities for collaboration and partnerships. For instance, new businesses could potentially benefit from the expertise and resources offered by firms like Boardroom Advisory.
New businesses should consider these industry trends when developing their strategies. They may need to identify potential partnership opportunities, differentiate their offerings, or even pivot their business models to adapt to the evolving market landscape.
In conclusion, the launch of Boardroom Advisory underscores the convergence of sports, entertainment, and business. While this trend presents challenges for new businesses in terms of increased competition, it also opens up opportunities for collaboration and innovation. As the landscape continues to evolve, the ability of new businesses to adapt and seize these opportunities will be crucial.