Los Angeles Lakers star forward LeBron James is claiming an ownership stake in MLB's Boston Red Sox.
League sources told ESPN, the New York Times and the Boston Globe on Tuesday that James is joining Fenway Sports Group as a partner, which will give him ownership stakes in the Red Sox and the company's other subsidiaries, including Roush Fenway Racing, Liverpool Football Club, sports network NESN and Fenway Sports Management.
The 36-year-old James initially partnered with Fenway Sports Management, a marketing company, in 2011, allowing it to represent his global marketing rights. As part of that deal, James gained a 2% ownership stake in Liverpool, a soccer club in the English Premier League.
But by joining Fenway Sports Group and further expanding his investment, James added the Red Sox and other FSG entities to his portfolio. It remains unclear how much James invested.
Maverick Carter, James' longtime friend and business partner, also invested in Fenway Sports Group. They will become the company's first Black partners.
In addition to James' investment, Fenway Sports Group received a $750 million infusion from RedBird Capital Partners, according to the Boston Globe. The investment from the private-equity firm puts the value of Fenway Sports Group at about $7.3 billion.
