Fenway Sports Group and LeBron James seem to be a match made in the boardroom. FSG bring on James as a partner and look at expanding to different sports.
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LeBron James and his business partner Maverick Carter become the first black partners of Fenway Sports Group. Partnership with FSG means that the pair become part owners in all the companies’ subsidiaries – including EPL giant Liverpool FC. LeBron already had a 2% ownership stake before joining as a partner, and now he comes more involved with the team.
FSG also reportedly received a whopping $750 million capital influx, coinciding with the king joining the board. One of the largest entities in the sporting world just got bigger, and a wider reach too with these two additions. League rules prevent an active NBA athlete from being an owner, but LeBron has never hidden feelings to own a team.
“I know I got so much knowledge of the game that I don’t want to, once I stop playing – I just do not want to get away from the game.” James remarked. With this move into the board, James and his partner will get a taste on how it is to run a major league team, with the group primary owners of the Boston based baseball team, the Red Sox. His close friend Dwyane Wade is now part owner of the Utah Jazz, so there is definitely going to be a competition when James gets his own.
Fenway Sports Group has had a bad reputation in European Sports – they have not invested well at all
The fans of Liverpool FC have had problems with the owner of FSG – John Henry. They’ve always complained that he isn’t present as the other owners. Something that has been a problem with all the teams with American owners. With LeBron James now on a much bigger role with the group, they definitely have hope.
James has been a long time supporter of the club – investing in 2011, 10 years before he got with FSG. Since Nike sponsors both the athlete and the team, there are plans of releasing a sportswear line with the two. A collaboration that is akin to the one Jordan Brand has with Paris Saint Germain.
With the Sporting group only getting bigger in valuation, LeBron James and his business group have a set future once he decides to retire from the game. The man learned from Warren Buffet, and it’s definitely showing. Any team that is under the FSG banner will definitely be excited with the partnership, since such a well known athlete is the face of it.
