LeBron James joins Red Sox, Fenway Sports Group

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Los Angeles Lakers superstar LeBron James will be a partner in the Boston Red Sox, according to reports from the Boston Globe and ESPN.

James has reportedly bought an undisclosed number of shares in Fenway Sports Group (FSG) per Globe. It makes him a co-owner of its subsidiaries which include the Red Sox, Liverpool Football Club, Rousch Fenway Racing and the regional sports network NESN. James has owned 2 percent of Liverpool, the current champions of the English Premier League, since 2011.

Maverick Carter, James’ friend and business partner, also joins the FSG partnership group. They are now the first black partners in Fenway Sports Group’s history. It was founded in 2001 and is now one of the largest sports companies in the world.

The turnout is in contrast to James’ famous fandom of rival New York Yankees. He’s even rooted in the playoffs against his hometown of Cleveland.

The Fenway Group receives a $ 750 million investment

LeBron James and recording artist Dr. Dre at the 2010 MLB opener between the Boston Red Sox and the New York Yankees. (REUTERS / Adam Hunger)

In addition to news of James’ stake, the group received an investment of $ 750 million per globe from RedBird Capital Partners. Most of the money is said to go to Fenway Sports Management, the group’s marketing arm.

You’ve worked with James for more than a decade, and his deep commitment signals that James will be more involved in FSG operations, sports journalist Michael Silverman wrote for The Globe. In 2019, the FSG switched uniform sponsorship from Liverpool to Nike, where James is an outstanding athlete with a lifetime contract of more than $ 1 billion.

The Boston Red Sox is valued at $ 3.3 billion and the FSG is valued at $ 6.6 billion per Forbes. FSG ranks fourth on the list of 2021 sports empires behind Liberty Media (Formula 1, Atlanta Braves and Drone Racing League), Kroenke Sports & Entertainment (Los Angeles Rams, Arsenal FC, Denver Nuggets, Colorado Avalanche) and Jerry Jones stocks to those the Dallas Cowboys belong to.

It was rated through Yankee Global Enterprises, the parent company of the New York Yankees.

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