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UTA and its strategic partner Klutch continues to be active in the M&A space.
The talent agency’s strategic partner Klutch Sports has acquired Rep 1 Baseball, a full service sports representation agency focused on professional baseball players.
Klutch will form a new division, Klutch Baseball, which will be led by Chris Koras, the current CEO of Rep 1. Terms of the deal were not disclosed.
“We believe in the transformative power of sports, and this move into baseball aligns perfectly with our commitment to excellence, innovation, and best-in-class representation for the world’s most talented athletes,” Klutch CEO and co-head of UTA Sports Rich Paul said in a statement. “The game of baseball has a special place in the hearts of sports fans around the world, and we’re thrilled to extend Klutch’s reach into this sport and to welcome Chris, the team, and their clients to Klutch.”
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“Meaningful progress in baseball representation is long overdue,” Koras said of the deal. “This move signals a shift in conventional thinking and reinforces our commitment to our clients by uniting our exceptional contract negotiations and servicing with the expansive client-focused 360 approach and cultural significance that UTA and Klutch are known for. We are thrilled to have the opportunity to elevate player expectations as they seek fulfillment during and long after their playing careers.”
Klutch, founded by Paul in 2012, struck a strategic partnership with UTA in 2019. That deal saw UTA take an equity stake in Klutch, with Paul launching UTA’s sports representation practice. The acquisition of Rep 1 expands UTA Sports — led by Paul and Andrew Thau — further.
Klutch represents some of the top athletes in the NBA and NFL, including LeBron James, Trae Young and Jalen Hurts. The launch of Klutch Baseball will add MLB stars like Rafael Devers and Starling Marte to its roster. Rep 1’s leadership team, which it says has negotiated over $2 billion in contracts, will join Klutch in the acquisition.
UTA has been quietly expanding in recent years, and secured an investment from the private equity firm EQT last year.
This year alone the agency launched a fashion division; acquired the literary agency Fletcher & Company; and acquired the headhunting firm James & Co. to built out an executive search division.
In one of its biggest deals, UTA acquired the consultancy MediaLink in 2021 for $125 million. MediaLink has had discussions about acquiring the Cannes Lions marketing festival in recent months, sources have confirmed to The Hollywood Reporter.
“Sports is an important part of UTA’s long-term strategy, with Klutch and its growing representation business at the heart of our vision,” adds Thau, the COO of UTA who was named co-head of UTA Sports earlier this year. “The formation of Klutch Baseball adds another exciting dimension to the range of talent we represent and the expanding capabilities we can offer them.”
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