Back in 2011, LeBron James signed what many consider, it the smartest contract in sports history. Bron would hand over his marketing rights to Fenway Sports Group, in exchange for 2% ownership of European football club Liverpool.
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The deal between FSG and LeBron was valued at 6.5 million dollars, which gave Fenway the right to add LeBron James as one of the company’s assets. Fenway could also pitch LeBron to potential marketing suitors, making a percentage through royalties on the deals. But such a complex deal wasn’t easy to close, as discussions ran over a year, finally coming to a close in the spring of 2011.
After buying his share in Liverpool, LeBron James decided to visit his new team. But from the looks of it, it wasn’t football that James was in Anfield for. James would have a special meeting with the players of the team, handing the soccer stars a special edition Beats headphones each.
The players would walk into the following match, all wearing Beats headphones. Unknown to many, LeBron was a minority stakeholder in Beats back in 2011. By mixing brands, LeBron was trying to replicate what PSG and Jordan brands would achieve in the late 2010s.
Being the business tycoon that LeBron is, it’s no surprise that LeBron chose ownership over a fixed some of money. In 2021, James transferred his 2% in Liverpool into a 1% stake in Fenway, making a whopping 93.5 million in just a decade.
LeBron James increase his stake in FSG
In 2023, LeBron James and Maverick Carter reportedly increased their stake in Fenway Sports Group. Though the exact amount of increase isn’t known, reports have confirmed the signing of the deal.
This move by LeBron James and Maverick Carter comes just months after Fenway showed interest in buying an expansion team in the NBA. With LeBron James having signed a lifetime deal with the sporting conglomerate, his dreams of part-owning an NBA franchise can finally come true.
LeBron’s sights have always been set on owning an NBA team. Reports of LeBron meeting with Adam Silver have also made headlines, as Las Vegas is looking like the preferred spot for the King.
Vegas makes a lot more sense than Seattle, as Vegas is the only other city in the states that can rival New York, Los Angeles, and Miami in the financial space. With LeBron recently becoming a billionaire, the dream of running a team isn’t far for the King.
