LeBron James to join Red Sox ownership group
(Reuters) – Los Angeles Lakers forward Lebron James has joined Fenway Sports Group as a partner, making him part-owner of Major League Baseball’s Boston Red Sox.
James purchased an undisclosed amount of Fenway Sports Group shares.
There was another transaction reported by the Boston Globe made by RedBird Capital Partners, who invested $750 million to join Fenway Sports Group.
RedBird Capital Partners reportedly will own an 11 per cent stake in Fenway Sports Group, which has a value of approximately $7.35 billion, according to the Globe.
Fenway Sports Group is also the parent company of the reigning champions of the English Premier League, Liverpool Football Club. James has owned two per cent of the club since 2011.
Principal owner John Henry will remain in control of the Fenway Sports Group, while chairman Tom Werner remains the second-largest shareholder. RedBird Capital Partners now owns the third largest share with President Michael Gordon fourth.
In addition to the Red Sox and Liverpool, Fenway Sports Group also owns Boston regional sports cable network NESN, as well as NASCAR’s Roush Fenway Racing and Fenway Sports Management.
According to Forbes, Lebron James is expected to make $95.4 million in salary and endorsements in 2021, with $31.4 million of that from this Lakers contract. He was supposed to make $39.2 million this season, but players’ salaries are being reduced due to the COVID-19 pandemic.
James is also projected to surpass $1 billion in career earnings from salary and endorsements this year.
The only athletes reported to have $1 billion in career earnings are Tiger Woods, Floyd Mayweather, Cristiano Ronaldo, and Lionel Messi.