LeBron James has made history, once again. This time, it's related to his new ownership stake in the Boston Red Sox.
And no, it's not by becoming the first New York Yankees fan to own a share of their heated rival (the latest example of his inconsistent fandom).
Fenway Sports Group, which owns and operates the Red Sox and Liverpool Football Club, approved a deal that would make RedBird Capital Partners the third-largest partner of the company. RedBird will invest $750 million into FSG, per the Boston Globe.
As a result of the deal, the Los Angeles Lakers superstar — along with his longtime friend and business partner, Maverick Carter — will own an undisclosed amount of shares in FSG. LeBron James acquired approximately two percent of Liverpool F.C. in 2011.
James and Carter will become the first two black FSG partners in the company's history.
The deal will infuse FSG with capital to invest into expanding its global portfolio, with James's star power leading the branding efforts.
James' already lucrative portfolio will see net another massive enterprise. Among other financial pursuits, the four-time champ owns hundreds of millions worth of equity in Beats by Dre, his investment in Blaze Pizza has proven extremely successful, and his entertainment company, SpringHill, is the hottest outlet in Hollywood.
FSG bought Liverpool for under $500 million after the global recession, and the franchise was recently valued at $2.6 billion, per the Globe (thank you, Mo Salah). LeBron James’s two percent stake is now worth over $50 million. His association with Nike via a $1 billion lifetime deal led Liverpool to change jersey sponsors from New Balance to the Swoosh in 2019.
The deal still needs formal approval from Major League Baseball, which could take several weeks.
RedBird will acquire an 11 percent stake of FSG, raising Fenway's value to approximately $7.35 billion.
Once the deal is finalized, James will be a minority owner of the Red Sox and other FSG holdings, such as NESN, Fenway Park and Anfield, Roush Fenway Racing, and consulting and marketing firm Fenway Sports Management. FSM has worked with James for years on various endorsement ventures.
FSG is reportedly interested in acquiring stakes in NFL and NBA franchises, another European football club, along with nearly every major sports league and venture, including esports, betting, and data analytics.
LeBron James has repeatedly expressed his desire to become an owner, in his other pursuit of Michael Jordan.
“I see LeBron owning multiple teams someday,” Fenway Sports president Sam Kennedy told ESPN's Brian Windhorst in 2019. “Not just NBA, but perhaps international soccer and maybe in esports. One thing we've learned working with LeBron is that he sees the big picture. He has a track record of making smart decisions and looking for opportunities. He's also been very successfully financially, and that's what you have to do to become a sports team owner.”
Now, as he chases another ring with the Lakers and MVP, the King is one step closer to matching the GOAT off-the-court, too, — if he hasn't already.
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