US neobroker Robinhood (NASDAQ:HOOD) has announced that it has signed a new strategic partnership with KLUTCH Sports Group, that will see KLUTCH Sports and its Property Sales division serve as Robinhood’s agency of record for partnerships in the sports and entertainment sectors.
In addition, Rich Paul, the Founder and CEO of KLUTCH Sports, was named a strategic brand advisor at Robinhood. In this newly formed role, Rich Paul will advise and support Robinhood as the company expands its marketing efforts across new verticals in sports, entertainment, and media. Paul will work closely with CEO and Co-Founder Vlad Tenev to identify new partnership opportunities at the intersection of sports and entrepreneurship.
Late last year Robinhood made its first major foray into the world of sports sponsorships, signing an agreement to become the official brokerage of the NBA’s Washington Wizards. A Robinhood patch now adorns the front of Wizards’ player uniforms.
Vlad Tenev, CEO and Co-Founder of Robinhood said,
“We’re massive sports fans at Robinhood and our customers are as well. Working with Rich and the team at KLUTCH Sports, we will connect with fans directly through the sports, teams, and athletes they know and love.”
Rich Paul (pictured above) added,
“At KLUTCH, we pride ourselves on doing things with intentionality and creativity. As we continue to grow, expanding our relationship with Robinhood was a natural next step. Their values, commitment to education, and dedication to social responsibility mirror our own, and I look forward to helping guide Robinhood as they broaden their reach into new markets and spaces.”
Rich Paul founded KLUTCH in 2012, specializing in the representation of NBA clients. Under Paul’s leadership, the agency has not only emerged as a leader in representation, but has also significantly impacted the community and culture of sports. In the last several years, KLUTCH has diversified its portfolio, extending its reach to encompass various major sports and leagues. The agency’s success is underscored by its premier and industry-dominant offerings, showcasing its commitment to excellence across all areas.
Robinhood said that today’s news is the latest example of its efforts to expand its reach beyond the traditional tech and finance space. The team at KLUTCH Sports has already opened doors with athletes, celebrities, and entrepreneurs like Draymond Green, Trae Young, Tyrese Maxey, Ben Baller, and A’ja Wilson, and has connected Robinhood executives with like-minded teams, owners, and athletes throughout the sports world.
In recent years, tens of millions of first-time investors have entered the markets. The company said that many of them are Robinhood customers who are more racially diverse than customers at incumbent brokerages. Robinhood’s approachable, low-cost platform, paired with digestible educational content, is a central reason why millions of new investors of all backgrounds are participating in the markets today.
With products from investing, retirement, crypto, and digestible investment and financial education, Robinhood stated that it is there for customers at every step along their financial journey.
About Robinhood
Robinhood Markets, Inc. is on a mission to democratize finance for all. In the U.S., people can invest with no account minimums through Robinhood Financial LLC, a registered broker dealer (member SIPC), buy and sell crypto through Robinhood Crypto, LLC, spend and earn rewards through debit cards with Robinhood Money, LLC and credit cards with Robinhood Credit, Inc., trade U.S. stocks without commission or FX fees in the UK through Robinhood UK Ltd, trade crypto in select jurisdictions in the European Union through Robinhood Europe, UAB, and access easy-to-understand educational content through Robinhood Learn.
About KLUTCH Sports Group
Founded in 2012 by CEO Rich Paul, KLUTCH Sports is a premier agency representing some of the world’s biggest athletes across major professional sports. KLUTCH’s unique, 360 approach helps clients at any stage of their career maximize opportunities across the rapidly changing entertainment, media, and business landscape, and provides strategic support in partnerships, branding, communications, social responsibility, and more. With proven expertise in the intersections of sports, entertainment, and culture, KLUTCH connects top teams, major leagues, and properties with global brands. In 2019, KLUTCH partnered with UTA, and in 2021, KLUTCH was recognized on TIME Magazine’s first-ever list of TIME100 Most Influential Companies.
