Los Angeles Lakers star LeBron James has reportedly become a partner in Boston Red Sox’s ownership group, Fenway Sports Group.
As first reported by the Boston Globe’s Michael Silverman, Red Sox parent company Fenway Sports Group completed multiple deals Tuesday. The first reported deal includes a $750 million investment from RedBird Capital Partners. The second includes James and business partner Maverick Carter becoming Fenway Sports Group’s first Black partners, per Silverman.
James’ stake in Fenway Sports Group have yet to be reported. Reports indicate that there will be no changes to John Henry’s status as principal owner and majority shareholder.
These moves are contingent on getting approval from Major League Baseball, a process that could take “several weeks,” a source told Silverman.
The Red Sox are just one element in Fenway Sports Group, which has steadily grown under Henry. The group also owns NESN, Roush Fenway Racing and the Liverpool Football Club in the English Premier League.
James had already made a major investment in Liverpool and owned a 2% stake in the team prior to buying in to the parent group.
According to Silverman, the added investments will allow the organization to expand by acquiring other sports franchises across a number of leagues.
There have been rumblings that Fenway Sports Group could be looking to expand and eventually go public since last year. The group reportedly had talks of a possible merger with RedBall Acquisition Company, which is co-chaired by former Athletics executive Billy Beane.
