NBA Superstar LeBron James is set to join the Fenway Sports Group (FSG) as a partner thereby owning a stake in the American professional baseball team, the Boston Red Sox.
According to a report from Boston Globe, James bought an undisclosed amount of shares from the company.
The 36-year-old’s purchase coincided with a $750 million private investment from RedBird Capital Partners, which is FSG’s third-largest partner.
Besides this, James’ long-time business partner and friend Maverick Carter has also been identified as an investor for FSG.
Aside from having a stake in the Boston Red Sox, the four-time NBA MVP awardee will become part-owner of other FSG subsidiaries, which includes NESN, NASCAR’s Roush Fenway Racing, and Fenway Sports Management.
Although some may be surprised, the Los Angeles Lakers baller is no stranger to such money moves. Back in 2011, James bought a two percent stake in Liverpool FC’s shares, which is also part of FSG’s properties.
His current endorsements include deals from PepsiCo, Mountain Dew, AT&T, Beats, Nike, Walmart, Rimowa, GMC, and Blaze Pizza.
According to Forbes, James is set for a historic year with his career earnings pushing to $1 billion – including $700 million in off-court takings.
James first made waves in the basketball scene after being drafted to his hometown team – the Cleveland Cavaliers – in 2003. He was the first overall NBA draft pick of that year.
Since then, he has played for Miami Heat and, his current team, the LA Lakers.
James was among the USA’s representatives in the Men’s Basketball category of the Olympics in 2004, 2008, and 2012. He also represented the USA in several FIBA World Championships, specifically in 2006 and 2007.
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