LeBron James has joined the group that owns the Boston Red Sox, according to a new report.
With their RedBird Capital Partners firm, James and his long-time business partner Maverick Carter both joined the Fenway Sports Group (FSG) to become the third-largest partner in the team’s ownership, according to the Boston Globe.
James and Maverick are the first black investors in Red Sox history.
FSG, which Forbes valued at $6.6 billion, not only owns the Red Sox but also owns British soccer team the Liverpool Football Club. In addition, FSG owns NESN, Roush Fenway Racing, and Fenway Sports Management.
It was reported that the capital that RedBird brings to the table will be used to expand FSG’s portfolio. The group is eyeing NFL and NBA teams, European sports teams, and even sports betting entities.
FSG has already worked with James for more than a decade with its marketing arm, FSM. FSG, for instance, switched its Liverpool uniform sponsorship from Boston-based New Balance to Nike. James is, of course, one of Nike’s biggest clients. It is reported that James has a contract with Nike worth $1 billion.
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