This year is shaping up to be another monster one for LeBron James. Already the highest-earning NBA player for the seventh straight year with another Hollywood role just a few months away, the four-time MVP winner is now setting his sights on a new target: America’s pastime.
The Boston Globe reported Tuesday that the 36-year-old James and his business partner Maverick Carter are looking to buy into John Henry’s Fenway Sports Group, which ranks fourth on Forbes’ list of the world’s most valuable sports empires at $6.6 billion. FSG, which owns the Boston Red Sox, Liverpool FC and Roush Fenway Racing, among other assets, has made news as of late after agreeing to sell a $750 million stake to RedBird Capital Partners.
It is unclear how big of stake James is taking, although Axios reported it could be around 1%. Based on FSG’s reported enterprise value of roughly $7.35 billion, James and Carter would be buying in for just over $70 million. The investment is more than promising for the pair as MLB valuations have skyrocketed from $523 million on average to $1.85 billion in the past ten years.
The deal is pending Major League Baseball’s approval. FSG did not reply to a request for comment.
James is also the main attraction in Space Jam: A New Legacy, the highly anticipated sequel to Michael Jordan’s 1996 original that is set to hit theaters in July. Forbes estimates he could earn around $5 million for the film, or possibly more if he takes a lower upfront fee and receives more on the back end. And James said goodbye to Coca-Cola, a brand he’s endorsed since before his rookie season in 2003, in favor of PepsiCo, an official NBA sponsor. Forbes pegs the new deal at roughly $4 million annually.
And as far as earnings potential, James’ future looks even brighter. Here’s a snapshot of LeBron James Inc.
- James was No. 5 on the 2020 Forbes ranking of the highest-paid athletes with $88.2 million.
- While James was the top-earning NBA player for the seventh year in a row, the bulk of his money—$60 million—was earned off the court.
- Forbes last estimated his net worth in 2018 at $450 million.
- James has the NBA’s top endorsement portfolio, as well as his own production company (SpringHill Entertainment) and media company (Uninterrupted).
- He joined the Los Angeles Lakers in 2018 and signed a two-year, $85 million contract extension in December.
- His other assets include Ladder, a health and wellness company he started with Cindy Crawford, Arnold Schwarzenegger and Lindsey Vonn, and 19 Blaze Pizza franchises in Chicago and South Florida.
- He remains a part owner of Liverpool, with a 2% stake.
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March 17, 2021 at 07:37PM
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The Numbers Behind LeBron James’s Bid To Become Part Owner Of The Red Sox - Forbes
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