NBA superstar LeBron James has endured success on and off of the court. However, an area of his career that has been gaining so much momentum over the years is his business acumen. The latest news coming out of the business world is that James will become part-owner of Major League Baseball’s historic franchise, the Boston Red Sox. The Boston Globe‘s Michael Silverman first reported the story.
Fenway Sports Group’s growth ambitions received a double dose of hopeful news Tuesday.
The parent company of the Red Sox and Liverpool Football Club approved a $750 million private investment that would make RedBird Capital Partners its third-largest partner, according to a source with knowledge of the deal.
The deal is contingent on Major League Baseball’s approval, which could take several weeks, the source said.
The other development introduced another new FSG partner who needs no introduction: LeBron James.
James, one of the most recognizable, influential, and richest athletes on the global stage, now owns an undisclosed amount of FSG shares after previously holding an approximately 2 percent share of the Liverpool soccer franchise since 2011.
By becoming a partner in FSG, the Los Angeles Lakers star also will become a part-owner of the Red Sox as well as other FSG subsidiaries, including NESN, Roush Fenway Racing, and Fenway Sports Management.
The Akron, Ohio native has been involved in numerous business ventures such as becoming the owner of 14 Blaze Pizza franchises, a lifetime deal with Nike, and his own production company, SpringHill Entertainment. LeBron James’ name, being attached to the Fenway Sports Group, is a game-changer for the sports scene in the New England area.
Photo courtesy of Kevin C. Cox/Getty Images.
