The Boston Red Sox have added LeBron James to their ownership group. According to the Boston Globe, the NBA sensation joined Fenway Sports Group as a partner this week. James’ ownership stake in the soccer club, Liverpool, will rise due to the deal.
James will be a limited partner in Major League Baseball’s main attraction, the Boston Red Sox. The team is valued at more than $3 billion; even though it is projected to fall behind in the competitive American League East division this season, Boston has greatly strengthened its farm system and could raise its payroll for the 2022 season after scaling back for the previous two years.
James held a 2% interest in Liverpool, the English Premier League’s reigning winner, which he invested in 2011. James and his company associate Maverick Carter will become FSG’s first Black investors by entering the partnership and growing their contribution.
On Tuesday, James said: “I think for me and for my partner, Maverick, to be the first two Black men to be a part of that ownership group in the history of that franchise, I think it’s pretty damn cool. It gives me and people that look like me hope and inspiration that they can be in a position like that as well, that it can be done. It gives my kids at my I Promise School more and more inspiration as well.”
FSG is one of the world’s biggest sports ownership organizations, and James’ presence would only extend its scope. According to The Boston Globe, which first announced James’ ownership share, FSG has secured a $750 million investment from RedBird Capital Partners.
James’ endorsement portfolio includes sponsorships from Nike, Coca-Cola, and AT&T. James has also founded his talent agency, SpringHill Entertainment, and a radio company. He is even a shareholder in 19 Blaze Pizza franchises. James’ earnings propelled him to No. 9 on the Forbes Celebrity 100 ranking in 2020, as well as No. 5 on the list of the World’s Highest-Paid Athletes.