LeBron James has left his veteran sports agent Len Rose at CAA and followed his childhood friend, young CAA agent Rich Paul.

Rich  Paul is starting his own company, Klutch Sports management.

LeBron filed paperwork with the NBA Players’ Association Wednesday to make it official. Meanwhile Paul is getting officially certified to become LeBron’s third agent since the forward entered the league in 2003 and now ranks 4th on the latest Forbes’ list of richest athletes. “Paul is a good guy who’s starting a little 4-person business,” a CAA insider tells me. “We wish them well.”

 “Paul is expected to take some players with him to his new agency as is standard practice in the business.” At CAA, both Paul and Rose represented Charlotte Bobcats rookie Michael Kidd-Gilchrist. But Paul counts among his clients Cleveland Cavaliers forward Tristan Thompson, Los Angeles Clippers guard Eric Bledsoe, and San Antonio Spurs guard Cory Joseph among others at CAA. And 2013 free agent Chris Paul is said to be one of LeBron’s and Paul’s closest friends. (The two are not related.)

According to sports reports, Rich Paul are childhoood pals and, together with Maverick Carter and Randy Mims, call themselves ’The Four Horsemen’. Later, after LeBron joined the NBA, they started a management group/marketing company called LRMR, which for the past 7 years runs James’ sports portfolio and is led by Carter. Paul was a business partner there until he joined CAA in 2008. He worked under veteran sports agent Len Rose who has been LeBron’s rep ever since 2005 when the player left his first agent Aaron Goodwin. Two years later, CAA purchased Rose’s practice and the right to do business with James. Rose negotiated James’ last two contracts. But it was LeBron’s 6-year deal with the Heat in 2010 that created a media coverage blitz. That’s because CAA’s Rose and CAA agent Henry Thomas teamed up to put together LeBron, Dwyane Wade, and Chris Bosh together in Miami.

Spotted at Deadline