LeBron James might have just hit a billion in net worth but he wants more than that. He wants to buy an NBA team worth $3 Billion in Las Vegas.
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LeBron James is the first active NBA player to crack the Billion Dollar mark and what an achievement that is. The superstar is nothing short of a business mogul.
He has multiple deals and ownership rights in companies whose values have increased multiple folds over the last decade. The Lakers superstar is showing that his intelligence is not restricted to the basketball court.
He possesses a rather incredible business acumen. In a stunning set of developments, the tea has been brewing around a potential NBA team ownership.
Of course, LeBron is inspired by his idol, Michael Jordan who owns an NBA team already. But Jordan brought the Charlotte Hornets way back in 2010.
Now the value of an NBA team is expected to be around 3 Billion Dollars, so how does LBJ plan to gather that much money?
LeBron James says he wants to own an NBA team in Las Vegas, and I think I know how he’s going to do it.
It’s a series of calculated chess moves that has seemingly been in the works for over a decade.
Here’s the breakdown 👇 pic.twitter.com/yr0hzHMxKh
— Joe Pompliano (@JoePompliano) July 7, 2022
LeBron James plans to use his stake in FSG to own an NBA team!
So, what’s FSG? The company called Fenway Sports Group is a holding company for assets that belong to professional sports. They own Anfield, Liverpool FC, Boston Red Sox, Fenway Park, and Pittsburgh Penguins.
That’s a lot of teams. LeBron was signed on to help with FSG’s marketing and instead of taking a cash commission, he chose to buy a stake in Liverpool FC.
For those of you that don’t know, Liverpool FC is a team in England whose value is now worth over $4.5 billion. King James’ genius does not stop there, in fact, he transferred his ownership of Liverpool into a stake in FSG itself.
FSG raised money to buy more teams and the first domino to fall was the Pittsburgh Penguins, which they acquired for $900 million.
As the sport becomes more and more global, there is an increasing demand for new teams, and looks as though FSG wants to purchase an NBA team.
Where?
9) FSG reportedly did its due diligence when the Minnesota Timberwolves went up for sale.
But they eventually passed, and many people believe it’s because they have their sights set on an NBA expansion team in Las Vegas.
And who do I think will run it?
LeBron James.
— Joe Pompliano (@JoePompliano) July 7, 2022
In Las Vegas, of course! LeBron James has been very vocal about his dream to own an NBA team and in Las Vegas, no less. It is all coming together and through the smart leverage of his brand, LeBron has turned millions into a potential stake in an NBA team.
