NBA superstar LeBron James is ready to take a swing at Major League Baseball ownership, reportedly set to join the ownership of the Boston Red Sox.
The Los Angeles Lakers MVP candidate has become a partner in the Fenway Sports Group (FSG), according to multiple reports on Tuesday.
James, who would now own an undisclosed amount of shares in the entire operation, would also have partial ownership of the Liverpool Football Club, NASCAR’s Roush Fenway Racing and the New England regional sports TV network NESN.
He also joins his longtime business associate Maverick Carter with FSG.
According to ESPN, James previously held a 2% ownership in Liverpool. He and Carter become the first Black partners in FSG’s history.
None of the potential stakeholders said anything publicly on the deal – which remains contingent on Major League Baseball’s approval.
James, 36, already owned 2% of Premier League champion Liverpool, and he and Carter now become the company’s first Black partners.
Eleven years ago, FSG purchased Liverpool for $493 million. James’ investment was a reported $6.5 million, which increased in 2018 when FSG turned down a $2.6 billion bid for the team.
That meant James made tens of millions in profit from his initial investment.
But it’s probably NBA team ownership that holds his primary interest, though current players are not allowed team ownership
James, in 2019, told reporters that upon his retirement, “I believe if I wanted to, I could own a team or be part of a basketball team. 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.”
The Red Sox, meanwhile, have an estimated value of more than $3 billion.