LeBron James has just made his latest major investment in sports.
The four-time NBA champion has bought a stake in Fenway Sports Group, joining them as a partner. This entitles him to part ownership in a number of organizations, including the Boston Red Sox, Liverpool Football Club, Roush Fenway Racing, as well as the Boston area sports network NESN. James had previously owned two percent of Liverpool since 2011 through a minority stake in FSG. However, this will increase now with his position as a partner in the group.
James has been very outspoken about his interest in owning professional sports teams, particularly in the NBA. However, under NBA rules, active players cannot have ownership stakes in any NBA or WNBA teams, so his focus thus far has been on ownership outside of basketball and helping others become owners. In January, James helped former WNBA player Renee Montgomery put a group together to buy the Atlanta Dream.
James, along with his business partner Maverick Carter, become the first African American partners of FSG.
The Red Sox finished in last place in the AL East in 2020 with a 24-36 record. The upcoming season will likely also be part of a rebuild towards 2022, when they will be able to use an improved farm system and an increased payroll to become competitive again. Liverpool, on the other hand, are the defending champions of the English Premier League, but currently are in sixth place in the 2020-2021 season with a record of 13-7-9.
