BEVERLY HILLS, March 17, (THEWILL) – One of the biggest names in the National Basketball Association (NBA) LeBron James is becoming a part-owner of the Boston Red Sox together with his long-time business partner Maverick Carter. The Red Sox are an American professional baseball team based in Boston and competing in Major League Baseball (MLB) as a member club of the American League East division.
Although the deal is not yet official, James and Carter have become partners in the Fenway Sports Group (FSG), which owns the Red Sox, Liverpool FC of the EPL, Roush Fenway Racing, regional sports network NESN, Fenway Sports Management and FSG Real Estate, a sprawling international network.
The portion of the deal that refers to their ownership of Red Sox is subject to the approval of the MLB. Prior to this investment, the self-styled “King” James owned a small share of Liverpool FC, the EPL outfit. He and Carter, with their part-ownership status, will be FSG’s first Black partners.
The business-minded Los Angeles Lakers star, who won a fourth NBA championship and fourth Finals MVP last season, is as involved in expanding his business and media relationships as he is on the courts making records with no apparent signs of slowing down soon.
In his kitty off the court are investments such as a lifetime deal with Nike that could exceed $1 billion, the expected summer release of “Space Jam: A New Legacy” all while his SpringHill Entertainment develops and produces other entertainment content. James, who recently signed an agreement with Pepsi, also owns Blaze Pizza franchises and has partnerships with AT&T.
Forbes ranked James as the fifth highest-paid athlete in the world nearly $95 million a year. $64 million of that sum comes from endorsement deals, according to Forbes.
Even with all these, James still looks forward to the day he will own an NBA club. Current League rules prohibit any player from any ownership while still playing actively in the NBA.
His answer, when queried about buying a team in the NBA two years ago, was: “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 – get away from the game.”
It will not be the first time that a former player will own a side in the NBA. Michael Jordan owns the Charlotte Hornets, and Magic Johnson used to own a small percentage of the Los Angeles Lakers.
Before the time comes for him to own and manage a club in the NBA, James will have to settle for part-ownership of the Red Sox, who have won nine World Series championships, tied for the third-most of any MLB team, and they have played in only 14.
