LeBron James partners with Liverpool owner FSG

NBA star LeBron James has shown that he is a goal-getter and is not about to stop making more business breakthroughs.

In a potential historic deal, LeBron James is set to become a part-owner in the Fenway Sports Group owned by John W. Henry and Tom Werner, alongside James’s business partner Maverick Carter. FSG is a majority owner of Liverpool F.C., according to the Boston Globe.

Although James owns a 2 percent stake in the English football club, the deal will give him the opportunity to increase his stake. Once the deal has been finalized, James and Carter will officially become FSG’s first Black partners. In addition to James and Carter’s investment, FSG also received $750 million investment from RedBird Capital Partners, according to the Globe.

James has been a stakeholder in Liverpool FC since 2011, a deal with was secured through his business partner Carter.

Fenway Sports Group has been in search of investors for some time and was already in talks with Cardinale and Billy Beane special purpose acquisition company (SPAC) Redball Acquisition Corp to take FSG public.

The deal only made little progress until it was terminated in January, mainly because FSG preferred to stay private, away from the stock market in the meantime. Redball’s inability to raise the second tranche of investment due to disagreements with investors over FSG’s $8 billion valuation, was also a hindrance to going forward with the deal.

After much deliberations, one of the potential deals that could benefit FSG’s business was James and Maverick’s offer. The deal will bring the LA Lakers star into the group through Fenway Sports Management. The partnership makes James a part-owner of the Boston Red Sox, Liverpool FC, and US sports network NESN.

According to The Boston Globe, the FSG investment could be used to expand FSG’s portfolio, with Liverpool and Red Sox befitting directly. FSG will also use RedBird’s investment to acquire more sports franchises and strengthen Liverpool and Red Sox.

LeBron James is one of the biggest basketball stars in NBA history. He has won four NBA titles with three different teams and has used his brand to secure strategic business deals and partnerships.

James was also named NBA All-Star for the 17th time this season and doesn’t plan on retiring any time soon. As he continues to expand his business reach, he said he plans on owning an NBA team in the future, something that the NBA prohibits active players from doing. He told reporters in 2019 that he had plans to own an NBA team upon his retirement.

“I believe if I wanted to, I could own a team or be part of a basketball team,” said James, who is worth $450 million according to Forbes. “I know I got so much knowledge of the game that I don’t want to, once I stop playing – I just [do not] want to get away from the game.”

James said he has given much thought to owning an NBA team because he believes that he has so much to give back. “I’ve got so much to give to the game. I know what it takes to win at this level. I know talent. I also know how to run a business, as well. And so, that is my goal. My goal is to own an NBA franchise, and it will be sooner than later.”