LeBron James on ownership stake in Red Sox: ‘Pretty amazing thing’
LeBron James made history Tuesday by joining Fenway Sports Group as a partner, and the Los Angeles Lakers star subsequently opened up about the latest development related to his ever-expanding business empire.
Along with the Red Sox franchise, Fenway Sports Group also boasts Liverpool Football Club, Roush Fenway Racing and New England regional sports network NESN, among other sports-related properties and subsidiaries. James previously owned a 2% stake in Liverpool, so Tuesday’s news, first reported by Michael Silverman of The Boston Globe, represents a significant expansion in that investment.
Silverman added in his reporting that James’ stake is unknown, writing that the Lakers superstar “now owns an undisclosed amount” of FSG in concert with longtime business partner Maverick Carter. James and Carter will become Fenway Sports Group’s first Black partners.
Following the Lakers’ win Tuesday night over the Minnesota Timberwolves, James opened up about the historic investment.
“I think for me and my partner, Maverick, to be the first two Black men to be a part of that ownership group and history of that franchise, I think it’s pretty damn cool.” James said during his postgame presser. “It gives me and people that look like me hope and inspiration they can be in a position like that as well and that it can be done. It gives my kids at I Promise School more and more inspiration as well. But it’s a great day for myself, for my family and my school and for my business partner, Maverick Carter, and everyone that has something to do with our group. But it’s a pretty amazing thing to be able to build my portfolio off the floor in the beautiful game like baseball.”
Assuming a financial stake in Fenway Sports Group of course is the latest — not to mention significant — step in James ultimately realizing his dream of being a majority owner of a professional sports franchise, perhaps even one in the NBA.
“Yeah, I’ve always said that. My goal is to own a team, own an NBA team,” James said Tuesday night, per Jeff Passan of ESPN. “I got so much to give to the game. I know what it takes to win at this level. I know talent. I also know how to run a business, as well. And so, that is my goal. My goal is to own an NBA franchise, and it will be sooner than later.”
As noted, James has long been focused on building a business empire. While many athletes wait until their careers conclude, James, with Carter by his side, aggressively seeks out new investments and opportunities to expand his already-enviable portfolio.
Along with an incredibly profitable financial stake in restaurant chain Blaze Pizza, among countless other investments, perhaps the most visible aspect of James’ off-court endeavors is SpringHill Entertainment.
The multimedia conglomerate operated by James and Carter topped $100 million in outside investments last year. The company has helped establish significant inroads for James into Hollywood and the entertainment industry, including its involvement on the production side of the highly anticipated “Space Jam: A New Legacy” film, which will premiere this summer in theaters and streamed on HBO Max.
In other words, the news Tuesday that James continues to make history both on and off the court is merely a testament to the NBA icon’s ability to focus on his future while still dominating the league that made him rich and famous.