The French billionaire François-Henri Pinault will take control of the most important agency in the NBA. The CEO of the luxury group Kering has just acquired the majority of shares in the Creative Artists Agency (CAA) for the sum of 7 billion dollars. The transaction will be made official later this year.
With more than $830 million in contracts under its supervision, the CAA is the league’s most valuable agency. She represents many stars, like Devin Booker, Paul George or Chris Paul. Despite this takeover, the management of the agency will not change. The current co-presidents, Bryan Lourd, Kevin Huvane et Richard Lovettremain in place.
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In total, the CAA oversees nearly $18 billion in sports contracts. Outside of basketball, she notably represents Josh Allen, Joe Burrow and Justin Jefferson (NFL), as well as Shohei Otani (MLB). She also manages the careers of many celebrities, such as Beyoncé, Leonardo di Caprio, Steven Spielberg.
This acquisition was carried out by Artémis, the holding company of the Pinault family, which also controls several luxury brands, including Gucci and Saint Laurent. “The CAA has all the relevant characteristics to be part of the Artémis family. It brings increased diversity, both in terms of geographic presence and commercial activities, to our other assets”declared the son of François Pinault.
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2023-09-08 16:29:10
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