Rich Kleiman knows the business of sports and celebrity. As Kevin Durant’s manager and cofounder of Thirty Five Ventures, Kleiman is an expert in blockbuster contracts, endorsement mega-deals, and superstar-driven media. Kleiman spoke to FORBES about how the sports world is dealing with the Covid-19 pandemic, how star athletes are engaging with fans and brands, and what professional sports might look like post pandemic.
Rich Kleiman and Kevin Durant speak during the 2019 Forbes 30 Under 30 Summit in Detroit, Michigan. ... [+]
Steven Bertoni: Kevin Durant recently announced that he has tested positive for Covid-19, how’s he doing?
Rich Kleiman: Kevin’s feeling fine. He's feeling asymptomatic and quarantined. He’s functioning like the rest of us right now. The original shock of finding out has subsided a bit as more information comes out. You realize how many people will be asymptomatic and how, in the long run, we’ll all wind up with this and need to build up some immunity. There's some peace of mind in that. But the same uneasiness that we're all feeling is something that he's living with.
SB: This is a time of year where many sports are in full swing. How are professional athletes handling the stoppage?
RK: Many athletes are constantly on the road during this time. Now they’re fully at home with their families. These days you need small blessings and I think everybody appreciates the closeness.
At the same time they are using social media to try to lift everyone’s spirits. A large number of athletes are going on their Instagram Live, Twitter, and other social platforms to communicate with fans and bring a sense of normalcy. Athletes like Kevin and LeBron are going about their day, engaging on social media, posting old highlights, and creating content for their fans. Athletes are always the first people to stand up and raise their hand when there's an issue, and when there's a cause they put their names out there. Kevin wasn't afraid to have his name out there when he tested positive. A lot of players are starting to do that.
SB: ThirtyFive Ventures has a content and media arm. How is the coronavirus crisis impacting the studio and brands like The Boardroom?
RK: It’s a pivotal moment for The Boardroom. People are in such need of entertainment and distraction right now and it’s time for us to really stand up as a platform. We want to give you a perspective of what these athletes are going through right now off the field and off the court—what they're doing and how they're just dealing with this. We aren’t tonedeaf to what’s going on, and want to be an option to help keep people entertained and give them a break from the news.
SB: How is Covid-19 impacting Durant’s brands and business lines?
RK: There’s a pause in many of our businesses, whether it be TV and film or brand and sponsorship, or Kevin's personal brand. We’ve been talking to Nike daily since the new KD 13 shoes were scheduled to come out around now. We are monitoring China closely since they were scheduled to be released there at the same time as here. Obviously we are in a standstill. But we are in constant talks with Nike and the Nets.
SB: What is happening with ThirtyFive Venture’s investment portfolio?
RK: We aren’t looking at any new deals. We’re being proactive and reaching out to all of our portfolio companies, figuring out what messages they're getting out to their consumers, and finding the best ways to use our reach to get that message out. We are doing video interviews with our CEOs and putting them on our platforms. Sadie Kurzban, the CEO of 305 Fitness, is putting their classes online and we’re helping with that. Some of our FinTech companies are getting into philanthropic projects and we are supporting them too.
SB: It’s far too early to tell, but what, if any, lasting impact will the Covid-19 pandemic have on sports?
RK: We're living in history right now. Whether the NBA season ends up getting canceled in its entirety or whether it comes back, whether baseball starts two months, three months, or four months late, we must realize that there is no precedent for this. There will be incredible moments and stories coming out that will represent this moment in sport.
Sports will go back to the way they were. There will be societal change in general—people will be more cognizant of how they spread germs—maybe instead of high-fives there’ll be foot taps. But people will build immunity, better understand the risks, and things will go back to normal. It will become part of our lives. There may be something like Tylenol Cold and Corona—but joking aside, hopefully it will a situation that we can take medicine to treat the symptoms. But there has been a shift in real life—people are more patient, and more sensitive to other’s feelings. We can all use some of that.
