LeBron James has become a partner in Fenway Sports Group, meaning he is now a part-owner of the Boston Red Sox, Liverpool FC and US sports network NESN.
The news, first reported by the Boston Globe, means James and his business partner Maverick Carter are the first black partners at FSG after expanding their investment in the group.
James, who has won four NBA titles with three different teams, is one of the biggest sports stars in the world and his presence will only increase FSG’s global reach. In addition to James’s added interest, FSG also received $750m in investment from RedBird Capital Partners, according to the Globe. FSG may use RedBird Capital Partners’ investment to acquire other sports franchises as well as strengthening Liverpool and the Red Sox.
The LA Lakers star has been a part-owner of Liverpool since 2011 and, before Tuesday’s news, had a 2% stake in the club. His new role with the Red Sox is interesting given that he plays for the Lakers, the fierce rivals of Boston’s NBA team, the Celtics.
James already has links with FSG, having co-produced a television show with Tom Werner, the chairman of the Red Sox and Liverpool. Werner has the second largest stake in FSG behind John Henry.
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James will turn 37 later this year but was named an NBA All-Star for the 17th time this season and has offered no hints he is considering retirement. However, he has spoken of owning an NBA team one day, something that the league forbids active players from doing.
“I believe if I wanted to, I could own a team or be part of a basketball team,” James, who is worth $450m according to Forbes, said in 2019. “I know I got so much knowledge of the game that I don’t want to, once I stop playing – I just [do not] want to get away from the game.”
While Liverpool won the Premier League last season, the Red Sox have struggled after winning the World Series in 2018, and are undergoing a rebuild as they look to become a competitive force in Major League Baseball once again.
