LeBron James always had an invigorating approach when it came to investments and business dealings. 12 years ago in 2011, James saw the potential in investing in sports teams and the prospect of becoming a team owner. Setting in his first steps, Bron invested $6,500,000 in Liverpool FC. Following in LeBron’s footsteps, Lakers legend Magic Johnson also tried his hand at investing in a soccer club, and invested in Los Angeles FC, 3 years later. This turned out to be a great decision for Magic, given the investment made him great returns from the club’s increasing valuation to $1 billion.
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LeBron James’ investment in Liverpool FC has turned him into a major fan of the English Premier League club. To celebrate his partnership with the club, LeBron collaborated with Liverpool to bring fans his very own collection of Liverpool clothing range. James’ teammate, Anthony Davis, was also captivated by this collection, evident from his constant featuring in Nike’s all-red LeBron XX shoes.
Magic Johnson followed suit with LeBron James to buy a stake in MLS club Los Angeles FC
LeBron James made a valuable investment in Liverpool FC, which has given him great returns in the long run. Similarly, following suit with James, another Lakers legend, Magic Johnson, also decided to delve into the world of sports ownership three years later. In 2014, Magic bought a 5% ownership stake in the MLS club Los Angeles FC.
Furthermore, before the club fielded itself into the league in 2018, Johnson was announced as one of the co-owners of the team in 2016. In 2022, LAFC won the MLS Cup, making them the current defending champions in the league.
Since July 2023, LAFC’s valuation has gone only up and onwards. It was reported that the club became the most valuable team in the MLS, with an upwards valuation of over $1 billion. Seems like Johnson’s hindsight and early investment into the club did pay off, given the team’s recent successes.
LeBron James’ $6,500,000 investment into Liverpool FC allowed him to get associated with the Fenway Sports Group, who are also the owners of the MLB team Boston Red Sox. His 2011 investment currently stands at a 2% valuation and is reportedly worth around $44,000,000. From all of these off-court moves, we can definitely infer Magic Johnson took the right inspiration from LBJ. Though he did not make the same move as the current Lakers star, Johnson’s ingenious hindsight into the investment ultimately benefitted him by adding more to his $620,000,000 net worth.
James’ move to LA was motivated by Magic Johnson’s assurance of increasing his net worth
In the summer of 2018, Magic Johnson had just assumed tthe position as the President of Basketball Operations for the Lakers. With LeBron having options to stay in Cleveland or move to Philadelphia 76ers that year, Johnson was determined to recruit the star player for the Lakers. Perhaps, Magic’s persistent recruitment convinced James to join the Lakers.
One of the assurances that Johnson had given LeBron James was to increase his net worth in LA. As per James, LeBron could increase his worth to $1 billion and upwards simply by living in Los Angeles. Fast forward to 2023, James is one of the only billionaires in basketball, proving Magic’s prediction right.
