Fenway Sports Group (FSG) has announced that LeBron James has become a a minor partner following an investment that puts James in a more active role in the company.
FSG, which owns Liverpool FC and the Boston Red Sox, announced the news early Wednesday after James and his business partner Maverick Carter expanded their investment.
LeBron’s 2% stake in Liverpool is now valued at around 37 million pounds (approximately $51.5 million).
Reports suggest that FSG might be using this investment as capital to purchase other sports franchises as well as shoring up the Liverpool and Red Sox teams. Other investors have started putting their stock in FSG, who announced a private investment deal with RedBird Capital Partners to the tune of $750 million.
FSG is now valued at 4.3 billion pounds ($6 billion) following the announcement.
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