Angeles Lakers star LeBron James is set to become a part-owner of the Boston Red Sox, according to The Boston Globe’s Michael Silverman.
Per Silverman, James was recently introduced as one of Fenway Sports Group’s newest partners and “now owns an undisclosed amount of FSG shares after previously holding an approximately 2 percent share of the Liverpool soccer franchise since 2011.”
Fenway Sports Group, which is operated by Red Sox principal owner John Henry, owns the likes of the Red Sox, Liverpool Football Club, Fenway Park, Roush Fenway Racing, Fenway Sports Management, and NESN.
By joining FSG as a partner, James, 36, now becomes a part-owner of the Red Sox as well as those previously listed subsidiaries.
Sliverman adds that Maverick Carter, James’ longtime friend and business partner, is also becoming a partner in FSG, making the pair the first Black partners in the company’s history.
This all comes as FSG recently “approved a $750 million private investment that would make RedBird Capital Partners its third-largest partner,” Silverman writes.
While this deal has been approved by FSG, it also needs to be approved by Major League Baseball, which, as Silverman notes, “could take several weeks.”
With the addition of James’ brand value and RedBird’s financial muscle, FSG could very well expand its portfolio by adding on to its already extensive list of properties.
Silverman reports that FSG — which was recently valued by Forbes at $6.6 billion — is currently interested in acquiring “NFL and NBA franchises, another European soccer club, NHL, MLS, WNBA, and NWSL teams, plus sports betting, esports, and data analytics companies.”