Study Hall: How Athletes Owning Media Companies is Shaping Their Stories - podcast episode cover

Study Hall: How Athletes Owning Media Companies is Shaping Their Stories

Dec 01, 202314 min
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Episode description

In this episode of EYL Medium, hosts Rashad Bilal and Troy Millings sit down with special guest Rich Kleiman, co-founder of the media company The Boardroom. They delve into the origins of The Boardroom, its purpose, and the changing dynamic of athletes in media.


The Boardroom, co-founded by Rich Kleiman and NBA superstar Kevin Durant, is a media company that focuses on the business of sports and entertainment. As Rich explains, it was born out of the need to tell stories and position their business ventures in a social media-driven world. In 2016, they started their own business, 35 Ventures, which involved managing Kevin's business interests, investments, and philanthropic endeavors. However, they soon realized the importance of having a platform to share their work and amplify their voices.


Rich Kleiman understood that simply starting a media business wouldn't be sufficient. They needed to differentiate themselves and find their unique selling point. By embracing their own authenticity and leveraging their experiences in the sports industry, they aimed to create a brand that represented the intersection of sports, entertainment, and business. The Boardroom became the embodiment of this vision, a place where different voices, genders, and perspectives are welcome, and decisions can be made to shape the industry.


The hosts discuss the emergence of athletes taking control of their own narratives through media. Contrary to the days when athletes were at the mercy of reporters and media outlets, they now have the power to control their own stories. As Rich puts it, athletes can build entire ecosystems around themselves, collaborating with other creators, athletes, and partners to shape their narratives. This shift empowers athletes to not only be the subject of media stories but to actively participate in producing content and dispelling misconceptions.


Beyond storytelling, Rich also speaks about the entrepreneurial mindset that many athletes possess. From an early age, many athletes are exposed to conversations about business and life, ultimately shaping their mindset as young moguls. This trend of athlete moguls allows them to not only control the narrative but also succeed in various business ventures beyond their athletic careers.


The conversation takes an interesting turn as Rich discusses his relationship with Kevin Durant, which evolved from agent-client to business partners. Over the course of three years, a foundation of trust was built between them, aided by their shared aspirations to create thriving business ecosystems akin to hip hop labels of the 90s. They recognized the potential of athletes being at the center of these economies and controlling various businesses surrounding their brand.


Overall, this episode of EYL Medium offers insights into the motivations behind The Boardroom and the changing landscape of athletes in media. It emphasizes the power of control, authenticity, and finding unique perspectives in an industry that can shape narratives and influence the world. Athletes are becoming more than just players; they are becoming influential entrepreneurs with the ability to build their own lasting legacies.


#EYL #EYLMedium #TheBoardroom #RichKleiman #KevinDurant #athletesinmedia #businessofsports #entrepreneurship #mediaempowerment #narrativecontrol



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Transcript

Speaker 1

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Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.

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Speaker 2

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Speaker 3

Okay, let's talk about the boardroom. Right, boardroom. It's a company that you guys started, you and KD and it's a media company built around athletes.

Speaker 2

Right is that correct?

Speaker 4

Built around the business of sports and you know, I think some parts of entertainment as well.

Speaker 3

Okay, talking about starting that, why that was an idea that you wanted to start and getting that up and runner.

Speaker 2

Yeah.

Speaker 4

Well so when I kept when I ultimately started my own business with Kevin, it was investing, and it was managing his business and managing his Nike business and helping him build out his foundation and everything that he's doing in PG County. And it was like building that family

office at thirty five Ventures. And we had a lot of deal flow and a lot of opportunity, and we were, you know, working on TV and film projects, and what I realized was that I needed a way to storytell around what we were doing.

Speaker 2

First.

Speaker 4

That was my first thing was like, you need we're in a climate now through social media that had become so present in everyone's life at the time, and the need to be able to storytell and position what you were doing in your business as much as just doing it.

Speaker 2

This is twenty sixteen, Yeah, okay, gotcha.

Speaker 5

So I'm thinking in terms of KDI thirty five Ventures, this is like he's with the Warriors, or he's about to go to the Warriors now.

Speaker 4

So when I left when we went when he went to the Warriors. That's around the time we start our own business, and that's sixteen to eighteen was building out that family office of thirty five ventures and establishing that side of Kevin's business. And then in twenty eighteen, what I realized was that we didn't have that vehicle.

Speaker 2

To really storytell around.

Speaker 4

And I knew from investing that just starting a media business was going to get laughed at. Like what was the point of us to try to replicate a model that people in Silicon Valley were saying was broken? You know, you weren't just going to invest in somebody because of an audience or eyeballs or metrics. You had to build

a business with a purpose and something different. And again, like I'm sure you guys, as you've built your business, knew the same thing, Like I'm not going to do that model that was fifteen years ago, and what you guys have done is a new model that has been created. And for me, I was trying to figure out what it was that made Kevin and I different. If I could figure that out, then I think that would allow us to start something that at least would embody us.

And then that would have to be authentic because it's us, and where that went I didn't know, and we were trying to figure it out, and we were talking a bit about it, and investors, I mean founders of companies were really taking to us and our strategy as a strategic investor, like how we worked.

Speaker 2

They were really taking to our style.

Speaker 4

And I realized that the more I could do work for these companies, the more we were going to get great deal flow and to really prove ourselves as an investor. So to have that vehicle would also benefit that side of our business. So I still was sitting on it, and then I went to a dinner at Peter Gouber's house or a lunch during NBA All Start weekend. And I don't know if this happens to you guys, maybe during your conference when you had five hundred thousand people in.

Speaker 5

The estimated where you look at yourself and you're like what the fuck?

Speaker 2

Like what the fuck?

Speaker 4

And I'm a fan of this whole world that I that I live in, that I work in.

Speaker 2

I'm still a fan of all of it on another level.

Speaker 4

So I'm at Peter Goober's house and pat Riley sitting on one side of me, and Jack Dorsey's on one side of me, and this NBA owner, and I'm like.

Speaker 2

How the fuck did I get here? This is my life's dream, And it was because of basketball. It's how I saw it.

Speaker 4

It was because Kevin Durant believed in me and trusted in me and these rooms that he was able to walk into because of how great he was at the game of basketball. That as a kid, if I had known that the sports world looked like that, that there was a way in like that, I would have been

like from day one. So I said, let me create a brand that really represents that, that there's a world around sports and entertains where it all makes sense, where people in the boardroom are wearing sweats, where everyone's different colors, different genders, and even though it might not be the richest people in the room, they're making a lot of the decisions and they're deciding what's fresh, and they're influential

and they can dictate where money moves. And that that was what I wanted the brand to represent, where all that intersected a bit, and just to become a storyteller and an amplifier of other great people and other great successes and to be a voice a bit of all of the action that was happening in this world and to really sit there and be complimentary. And as the business has grown, that's still at the core of it.

Speaker 3

So it's immedia. So you see a lot of guys in that arodesque like so Lebron's does spring Hill right with math and then Katie.

Speaker 6

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Speaker 2

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Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from El Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christine Nohm, the United States

Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you were here illegally, your next you will be fine nearly one thousand dollars a day. Imprisoned and deported, you will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.

Do what's right. Leave now. Under President Trump, America's laws, border and families will be protected.

Speaker 3

Sponsored by the United States Department of Homeland Security works with you and you guys have the boardroom, which is essentially you produce content? Right, do vents produce content? You shaping a narrative as you just kind of said, how important was that? Do you see this new age of athletes kind of because athletes has always always complained about narratives. They never got depicted correctly from reporters. They've never really, you know, liked how people in the news have written

about them. There's always been conflicts, but now we're seeing it they actually on the other side of it and controlling the narrative in the media. So talk about the dynamic that you see from the change and athletes complaining about media to them actually taking control and owning a piece of media.

Speaker 2

Yeah. Man, I think it's a beautiful thing.

Speaker 4

I think because in sports, as much as any part of society, the media, creating a storyline actually has such real life implications. And in the real world now sadly we're seeing it on the highest level. But this has

been happening in sports for a while. And I think during Kevin's free agency, when we set up that whole scene in the Hamptons, it really hit me of like, wait, like you because I remember Kevin said to me once like, man, this shit ain't world news or something, and I'm like, no, I think it is.

Speaker 2

Bro, I think this is world news. Like this is what it's come to.

Speaker 4

So, you know, the idea that an athlete not just can create and command their own narrative, but can build and tire ecosystem where entire narrative can be created and an athlete can drive it, but an athlete can find other creators and other athletes and other partners and other stories that they want to tell and that they can control. But I look at it as a bigger thing than that, because I look at these athletes now, it's just some of the most sound young entrepreneurs.

Speaker 2

Not everybody, but a lot of.

Speaker 4

Athletes are exposed early to the conversation of business, you know, like my daughter's I had a fourteen year old and a ten year old. If my fourteen year old was an incredible, potentially professional athlete, I'd be talking to her about business and life right now. I'd have to be preparing her for what some of these conversations mean that people are having with her, and what some people want

from her when they talk to her. And then all of a sudden, now at fourteen years old, she'd be like, really way ahead of the curve in terms of how to approach business and life and people, because that's not what you're telling your fourteen year old. You're teaching them certain things. But now these kids are seventeen eighteen years old, and they're already thinking about things that I just never thought about at that point. In my life or maybe

even understood or had that information. So I think what you're seeing is this incredible trend of athlete moguls, like potential moguls, not all moguls, but that's where their minds are at, and with that they can control the narrative.

Speaker 5

It's interesting the conversation that you have with your daughter does a trust that's there obviously as a father, the conversation with KD. I'm interested because we see a lot of I mean pretty much everybody has an agent, but really do we see clients create businesses with their agent? So what was that relationship like with for him to say, you know what, this is something I want to do

with you. How long did it take for you to build that rapport and to get to the point where it's like, yeah, this is not my agent, this is also my business.

Speaker 2

Yeah. I guess just.

Speaker 4

In business time four years two thousand and twelve to around two thousand and fifteen, actually, so three years.

Speaker 2

But I had met.

Speaker 4

Kevin his rookie year through La who I was managing at the time, and they're both from the DMV. So I think it was this level of trust in our relationship that we had had but it was also a bit of the climate of you know, of the business, like what Lebron had started to build and create was becoming in a lot of ways like the North Star,

you know. And then what I think Kevin and I both grew up around watching like these hip hop labels of the nineties build these economies where bad boy at the center and it's vodka, magazines, parties, records, clothing, and that was something that was really aspirational.

Speaker 2

I think that was something I mean that.

Speaker 4

Was at the core of a lot of that era of athletes thinking about their business and then you know, in a lot of ways being able to say, all right, well I can control all of this, Like I sit at the center of this economy and there's ways to build business all around it. And I think then the natural evolution was that because the trust we had as his agent and someone that I knew for a while, there was a confidence that we could do something together.

Speaker 1

An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from Al Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy nom the United States

Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you were here illegally, your next you will be fine nearly one thousand dollars a day, prisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.

Do what's right. Leave now. Under President Trump, America's laws, border and families will be protected.

Speaker 2

Sponsored by the United States Department of Homeland Security.

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