LeBron James’ legacy in the NBA is well etched in the league’s history books; the man hailing from Ohio will be entering his 20th season as a professional. During the last 19 years, James has amassed a fortune. He recently reached billionaire status, but this is because of more than just his on-court prowess. “The Chosen One” has left his mark off the court as well.
Throughout his playing career, James has been involved in a number of successful business endeavors. In addition to his business ventures, he also has invested in a number of notable sports franchises. In March of last year, James secured a 1% stake in the Boston Red Sox of Major League Baseball. He also acquired a 2% stake in the soccer club Liverpool FC.
LeBron turns 37 today.
—4x MVP & Finals MVP
—17× All-Star
—on-court: $387M
—lifetime deal: @Nike
—others: @PepsiCo @BlazePizza @tonal + more
—part owner: @RedSox @penguins @LFC
—media co: @uninterrupted
—prod. co: @TheSpringHillCo
—charity: @LJFamFoundationHBD, @KingJames. pic.twitter.com/61JYIzhp5f
— Boardroom (@boardroom) December 30, 2021
This is all because of Fenway Sports Group (FSG), a professional sports asset holding firm in which LeBron James is a stakeholder. The Boston Red Sox, Fenway Park, Liverpool FC, and Anfield are all FSG assets. Despite playing his money effectively in a number of sports, he has not done so in the NBA. However, James let it know last month that he wants to own an NBA franchise. In fact, he wants it to be located in Las Vegas.
"I want a team in Vegas." @KingJames hints at his next big move on an all new episode of #TheShop TOMORROW at 9 am PT on our YouTube!
pic.twitter.com/HIZKsBYPGF
— UNINTERRUPTED (@uninterrupted) June 9, 2022
Las Vegas and Seattle have frequently surfaced as two potential expansion destinations. If that goes through, the NBA’s total number of teams will increase from 30 to 32. James looks more than interested in controlling a prospective expansion franchise in Las Vegas.
LeBron wants to own a team in Las Vegas
“With what LeBron has meant to the game of basketball, I’m going to go so far as to say I think the league would owe it to him to facilitate him owning a basketball team.” —@stephenasmith pic.twitter.com/y5I6I8mFrX
— First Take (@FirstTake) June 10, 2022
Stephen A. Smith himself suggested that the league should do everything they can to facilitate James’ acquisition of an NBA franchise. And he is right. After all these years of service, they can assist him to achieve his long-held dream.
LeBron James buying Liverpool was possibly part of a long-term plan to acquire an NBA franchise
LeBron James has long wished for owning an NBA franchise. And now it sounds like he’s set his sights on a prospective expansion team in Sin City. And it isn’t a random desire of his. It looks to be a deliberate string of maneuvers that have been in the works for quite some time.
If NBA goes through the expansion route, the expansion fee will most likely surpass $3 billion. If that happens, despite being a billionaire, James will be unable to acquire an NBA franchise on his own. This is where, though, FSG would come running to aid the 4-time champion.
James’ involvement with FSG stretches back to his years with the Miami Heat in 2011. That year, the two parties struck a business deal, laying the groundwork for an enduring professional relationship. FSG wanted to expand their business, and adding James to the pack helped them do just that.
LeBron James and FSG entered a one-of-a-kind marketing agreement. The deal granted FSG exclusive global rights to market James. However, it was here that he displayed his court-like acumen. Instead of surrendering his marketing rights to the firm for money, he acquired a 2% stake in Liverpool FC. And since then the football club’s valuation has been on a rise.
James became a partner in FSG last year
RedBird Capital invested $750 million in FSG last year. Following the agreement between the two parties, LeBron James became a partner in Fenway. Subsequently, the NBA star converted his 2% ownership stake in Liverpool into a 1% stake in the parent firm, making him a co-owner of the sporting assets FSG possesses.
LeBron James is now officially a partner in FSG. One of the most influential sports stars in the world taking a greater interest in Liverpool is a big positive for me. Imagine LeBron calling a potential transfer target… https://t.co/hwnkPH2BSr
— DaveOCKOP (@DaveOCKOP) March 16, 2021
FSG apparently raised the sizable sum in order to acquire more sports franchises. And eventually, they decided to purchase a controlling stake in the Pittsburgh Penguins.
Nov. 29: Fenway Sports Group buys the Pittsburgh Penguins for $900 million.
Today: LeBron James, a partner at FSG, arrives in a Penguins jersey
(
: @Lakers) pic.twitter.com/AfFtPUeNL3
— Front Office Sports (@FOS) December 15, 2021
Following the acquisition of an NHL franchise, FSG was expected to pursue the Minnesota Timberwolves. However, the company opted to forego this option. This most likely occurred as LeBron James and the company might be waiting for the expansion to acquire the franchise in Vegas.
WATCH THIS STORY: Kobe Bryant, Dennis Rodman, Chris Paul and Other NBA Stars Who Inspired Children By Writing Books For Them
This is all hypothetical at the moment, but the strategic steps taken at every juncture indicate that James has always intended to run an NBA franchise. Will that transpire in the near future, though? Only time will tell.
The post Billionaire LeBron James’ Desire to Buy an NBA Franchise May Have Been Influenced By $4+ Billion Worth Liverpool FC appeared first on EssentiallySports.
Source: | This article originally belongs to Essentially Sports
