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Business partner Maverick Carter also bought into the MLB club’s company, Fenway Sports Group, for an undisclosed price. The Red Sox are reportedly worth an estimated $3.3 billion, according to Forbes.
Carter and James will become the first and only Black partners in FSG, which is currently controlled by Red Sox principal owner John Henry, FSG president Michael Gordon, and chairman Tom Werner.
James, a four-time world champ who was born in Akron, Ohio, in the past said he was an Indians and a New York Yankees fan. He has invested in sports properties in the past, including the Liverpool soccer franchise in 2011. The new development would mean a deeper relationship.
FSG on Tuesday also reported a $750 million private investment from RedBird Capital Partners, a New York and Dallas-based investment group.
LeBron James and Maverick Carter. Source: Getty Images
The deal also gives Lebron partial ownership in NASCAR team Roush Fenway Racing and sports cable network NESN.
Neither party has said anything publicly on the deal.
James has made it clear he wants to one day own a basketball franchise.
"I see LeBron owning multiple teams someday," Fenway Sports President Sam Kennedy said last February. "Not just NBA, but perhaps international soccer and maybe in esports. One thing we've learned working with LeBron is that he sees the big picture. He has a track record of making smart decisions and looking for opportunities. He's also been very successful financially, and that's what you have to do to become a sports team owner."
By the end of his four-year contract with the Lakers, James will have earned a record $390 million in NBA salary.
Red Sox manager Alex Cora, when told about the news acted surprised, telling reporters he hadn't heard about it and adding, "He's a good basketball player."