Los Angeles Lakers star LeBron James will be increasing his equity in Fenway Sports Group (FSG). The move will be “part of a lifetime marketing deal” that James has recently signed.
James and Maverick Carter, James’ business partner, became part of FSG in 2021 after they had increased their stake, owning 1% of the Boston-based group. The new development, which was confirmed by FSG, states that both James and Carter will receive additional equity in FSG.
The agreement also strengthens the business partnership between FSG, LeBron James and private equity firm RedBird Capital. RedBird, led by Gerry Cardinale, bought 10% of Fenway for US$750 million in 2021 to pursue opportunities in sports.
RedBird is also an investor in SpringHill; SpringHill is also a partner in Naomi Osaka’s production company Hana Kuma, in which Fenway recently invested.
Multi-year extension announced British Formula One team Williams Racing have announced a multi-year extension of…
Spanish footballer Juan Mata has been revealed as an investor in new Major League Soccer…
Long-term extension announced The National Basketball Association (NBA) has announced a new 11-year partnership extension…
Amidst growing uncertainty after Manchester City’s off the pitch legal issues and lacklustre start to…
Clubs across Europe’s top 5 divisions have made some huge deals this summer window, however,…
Rolex extends and expands deal The Women's Tennis Association (WTA) has announced a partnership extension…