The four-time NBA MVP has turn into a companion within the Fenway Sports activities Group, based on The Boston Globe’s Michael Silverman, who reported Tuesday that James now owns an undisclosed quantity of FSG shares. That enterprise transfer makes James a component proprietor of the Pink Sox in addition to different FSG subsidiaries, together with NASCAR crew Roush Fenway Racing, cable community NESN and Fenway Sports activities Administration.
Maverick Carter, James’ longtime good friend and enterprise companion, will be part of the Lakers star as an FSG companion. They’re the primary Black companions in FSG historical past, per Silverman. James beforehand held a two p.c share of the British soccer franchise Liverpool, which falls underneath FSG possession.
Along with the information relating to James and Carter, Silverman additionally famous that FSG might be accepting a $750 million funding from RedBird Capital Companions, which may permit FSG to pursue different franchises past the Pink Sox and Liverpool.
Earlier this yr, Forbes ranked FSG because the fourth-largest sports activities empire at $6.6 billion behind solely Liberty Media ($13 billion), Kroenke Sports activities & Leisure ($8.73 billion) and Jerry Jones ($6.98 billion). Forbes most just lately valued the Pink Sox at $3.3 billion.
The RedBird Capital Companions’ funding is contingent upon approval from MLB, which may take weeks, per Silverman.