Los Angeles Lakers superstar LeBron James has expanded his portfolio beyond basketball, and right in Boston’s backyard, as James is now a part owner of the Boston Red Sox, according to the Boston Globe’s Michael Silverman.
“James, one of the most recognizable, influential, and richest athletes on the global stage, now owns an undisclosed amount of FSG shares after previously holding an approximately 2 percent share of the Liverpool soccer franchise since 2011,” Silverman wrote. “By becoming a partner in FSG, the Los Angeles Lakers star also will become a part-owner of the Red Sox as well as other FSG subsidiaries, including NESN, Roush Fenway Racing, and Fenway Sports Management.”
Per Silverman, Maverick Carter, LeBron’s longtime business partner and friend, will also join him as a partner with FSG, which makes Carter and James the first Black partners in FSG’s history.
It’s an interesting turn of events, all things considered, as James’s baseball fan career has included allegiances to the Yankees (his most consistent team of choice), Indians, and Dodgers. We’ve never seen him out and about with a Red Sox cap, and it’s certainly off the board to think about him partnering with the Red Sox over those other teams. But it is in line with his prior investments and relationship, as Silverman noted, with a two percent share of Liverpool FC.
How LeBron’s influence impacts the Red Sox moving forward remains up in the air.
But this is a partnership that seems based on improving the branding of Fenway Sports Group, according to Silverman, who noted that Fenway Sports Management has worked with James for more than a decade on various marketing and endorsement ventures, and that “much of the RedBird Capital Partners investment will be earmarked for FSM.”
James, who has countless endorsements ranging from soda to a lifetime deal with Nike to cars to pizza, was projected to cross the $1 billion mark in career earnings in 2021.