LeBron James set to become part-owner of the Boston Red Sox
James and his business partner Maverick Carter have become the first two Black partners for Fenway Sports Group.
LeBron James is making major moves off the court. The Los Angeles Lakers star is reportedly set to become part-owner of the Boston Red Sox.
According to The Boston Globe, Fenway Sports Group (FSG), a Red Sox parent company, completed several deals on Tuesday (March 16), one of which includes the NBA player and Maverick Carter, his business ally, becoming Fenway Sports Group’s first Black partners. In addition to having ownership in the MLB team, James will also become part-owner of “other FSG subsidiaries, including NESN, Roush Fenway Racing and Fenway Sports Management,” according to the outlet.
James’ stake in the company has not been revealed to the public. He already has a stake in the English soccer team Liverpool Football Club, whose majority owner is FSG. According to Forbes, FSG is the fourth-most valuable sports empire and is worth $6.6 billion. Only Jerry Jones, Liberty Media and Kroenke Sports & Entertainment rank higher.
Aside from his new business venture, the Akron, Ohio native is planning to open a multi-use community center in his hometown. The LeBron James Family Foundation will open House Three Thirty, a 60,000 square-foot venue that will offer a broad range of community services like financial literacy advice, job training, youth activities and more. The building, which will take over the city’s Tangier entertainment complex, will also house a dining area, sports complex, coffee bar and more.
“[House Three Thirty] is going to be a sanctuary for our families,” James told TIME Magazine. “It’s going to be a place where all our families can grow and learn. This will be a hub for everything possible our families will need.”
Dick’s Sporting Goods will create a youth sports complex at the building complete with basketball courts, a soccer field and a recreational space. According to James’ foundation, House Three Thirty should be open by 2022.
Congratulations to James on becoming part-owner of the Red Sox!
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