LeBron James has become a partner in Fenway Sports Group, making the Los Angeles Lakers star a part-owner of the Boston Red Sox, the Boston Globe reported Tuesday.
Fenway Sports Group is the parent company of the Red Sox as well as the Liverpool Football Club of the English Premier League and the Roush Fenway Racing NASCAR team. The paper reported that Maverick Carter, James' longtime business partner, was also involved in the deal.
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James already owned a two per cent share of the reigning English Premier League champions, when he signed a marketing deal in exchange for a small ownership stake in Liverpool.
But his share in the club now increases as a result of owning "an undisclosed amount of FSG shares," according to Michael Silverman of the Boston Globe.
Fenway Sports Group Chairman Tom Werner did not immediately respond to an email from The Associated Press seeking comment. A spokeswoman for the Red Sox and FSG declined to comment.
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Cleveland Cavaliers coach J.B. Bickerstaff said James being able to buy into the group is a huge step.
"I think when you look at him in particular, and his forethought to be able to put himself in position to change generational wealth, has been amazing," Bickerstaff said. "And you look at not only what he's done for himself but what it allows him to do for other people. It's something that inspires, something for others to marvel at."
"You knew that he has a great eye and passion for business," added Miami Heat coach Erik Spoelstra. "And he doesn't set any boundaries on where he can take it. He's a big Yankees fan, so I think that that makes it fun."
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