LeBron James is one of the richest athletes in the world. With his career earnings, endorsements, and investments, The King has accumulated a massive net worth of $1 billion. Given all that wealth, it comes as no surprise that LeBron is looking to expand his portfolio.
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Well, James may have just made a massive move to do just that. According to reports, the four-time NBA Champion has increased his equity in Fenway Sports Group. A move that points towards the possibility of a LeBron-owned NBA franchise.
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LeBron James has increased his equity in Fenway Sports Group, hinting at an NBA team purchase
Apart from being a Hall of Fame-worthy basketball player, LeBron James is also a successful businessman. Just last year, The King earned a mouth-watering $126 million. But, what is LeBron doing with all that money?
If reports are to be believed, the NBA’s all-time leading scorer is making a huge move. LeBron has just signed a lifetime marketing deal with Fenway Sports Group. A deal that increases his equity in FSG significantly.
Known for their ownership in sports teams like the Boston Red Sox, Liverpool FC, and the Pittsburgh Penguins, many believe this move suggests a possible future investment in a new NBA team. And, best of all, LeBron could be spearheading the ownership group.
BREAKING: @KingJames and his business partner @mavcarter have increased their equity in Fenway Sports Group (@RedSox, @penguins, @LFC) as part of a new lifetime marketing deal.
The pair had about 1% prior to new deal. https://t.co/aMEMvkR1in
— Eben Novy-Williams (@novy_williams) March 10, 2023
Prior to the new deal, James and his business partner Maverick Carter had about 1% in FSG. This is a huge deal for all parties involved and the world will be watching keenly to see what happens next.
King James has aspirations to own an NBA franchise in Las Vegas
Given the current situation with FSG and LeBron James, it seems very likely that ownership of an NBA franchise is soon to come. However, LeBron isn’t interested in owning any old franchise. The King is specifically interested in bringing an NBA team to the city of Las Vegas.
“I wanna own a team. I want a team in Vegas” – @KingJames 👀
(🎥: @uninterrupted)pic.twitter.com/hgcAqPLstt
— Front Office Sports (@FOS) June 9, 2022
Vegas is a big city, and LeBron is a big player. One thing is for certain, Sin City will most definitely welcome an NBA team, especially if King James is ruling.
