In the seventh paragraph of the Miami Heat’s press release about a new jersey patch partnership with financial services company Robinhood is this little nugget:
“Klutch Sports Group’s Global Partnerships division was hired to source and help facilitate the deal from start to finish.”
This isn’t nothing. This is a full-throated shout-out and accredit for what will be a lucrative new income stream for the Heat, complete with a statement from a Klutch executive.
"Robinhood’s mission to make finance accessible was a strong fit with the Miami Heat’s dedication to community, culture, and excellence, making this partnership a natural choice,” head of Klutch global partnerships Andrew Feinberg said in the statement.
Make no mistake: The announcement about the Robinhood jersey patch is equally an announcement of a new working relationship between the Heat and Klutch.
Why is this a big deal? Let me explain.
Klutch Sports is a sports agency founded in 2012 by Rich Paul, close friend and business partner of LeBron James. When LeBron left Miami for the Cleveland Cavaliers in 2014, Heat president Pat Riley publicly expressed disappointment with the decision.
According to NBA insider Marc Stein, Riley met with LeBron, Paul and other Klutch executives that summer to try to convince LeBron to stay in Miami and pitched his vision to rebuild a championship roster after the 2014 Finals loss to the San Antonio Spurs.
“That summer, Miami’s Pat Riley and noted Heat front-office strategist Andy Elisburg hosted James’ agent Rich Paul and longtime NBA agent and attorney Mark Termini, then the lead negotiator for Klutch Sports, for a meeting to discuss what the Heat could do roster-wise depending on various contract constructions … and to see if there was any way James’ representatives would agree to something less than a maximum deal to afford the Heat more financial flexibility for roster building. … The proposal, either way, was greeted with silence.”
Since then, there’s been widespread speculation about Riley’s unwillingness to deal with Klutch and their clients.
Players the Heat have been linked to like Dejounte Murray, Malcolm Brogdon, Zach LaVine, Tyrese Maxey and Collin Sexton are Klutch clients. It might be a coincidence that the Heat never acquired them, but it does raise the question of whether Riley and the Heat would prefer not to deal with their agency.
That changed this summer, when the Heat signed Alec Burks to a one-year deal. It’s another move that suggests Riley and the Heat might be burying whatever hatchet may or may not have existed with one of the more powerful agencies in the NBA.
At the risk of needless speculation, it’s fair to wonder if this new working relationship could open the door for other Klutch clients to join the Heat. Players like De’Aaron Fox, Darius Garland and Fred VanVleet could be available within the next year.
The Athletic reported in June that Fox, a Klutch client, "has decided not to sign an extension this year, in part because he wants to see how the Kings roster takes shape for the long haul."
Fox, a 2023 All-Star and All-NBA member, has two years left on his deal and is Bam Adebayo’s former teammate at Kentucky. If he doesn’t sign an extension in Sacramento, rival teams will be calling.
The Cavaliers opted not to trade Garland this summer, but that could change if management concludes the Garland-Donovan Mitchell partnership isn’t working under a new head coach. VanVleet has a player option for next summer.
To whatever degree you suspect any beef between the Heat and Klutch, the signing of Burks and this new, C-suite working relationship indicates the two parties have never been closer.
