Fenway Sports Group and the sports clubs
The latest big related news about the four-time MVP is his participation as a partner in the purchase of Milan. Gerry Cardinale will be the new owner of the Italian club and has a close relationship with LeBron James as they are both Fenway shareholders, but the relationship between the Akron player and the sports stock company goes back years.
In 2011, LeBron partnered with Fenway Sports Group to seek business opportunities together. The name may not ring a bell, but this company is one of the giants of world sport. equipment owner (el Liverpoollos Boston Red Sox de bésibolthe hockey Pittsburgh Penguins), stadiums (AnfieldFenway Park) and even television networks (NESN).
In that first agreement of 2011, James took over a small percentage of Liverpool shares (it is estimated that around 2%) valued at about 6.5 million. A decade later, the consulting firm KPMG estimated that the price had shot up to around 52eight times more. Last year, he exchanged it for a block of shares (1%) of Fenway.
This association movement is determined by the desire and the illusion of the Lakers player in owning a team in Las Vegas. The average value of a franchise is about 2,500 million dollars (from 5,800 for the New York Knicks to 1,500 for the Memphis Grizzlies), and the price will be higher when the new NBA television contract is signed, which will take effect in 2025. Adam Silvercommissioner of the North American basketball league, warned that those 2,500 million It is a “very low” number.. Any move by LeBron in this regard must be with an investment group behind it, such as the Fenway Sports Group.
Other businesses
The resurrection of the Cannondale bicycle brand; Blaze Pizza, a restaurant chain; o Beachbody, a fitness in which he entered as a shareholder after selling a sports nutrition company that he had founded with Arnold Schwarzenegger, They are some of the other businesses that surround LeBron James and with which he expands his entire fortune. In addition, his tequila company stands out, Lobos 1707with which he won The San Francisco World Spirits Competition, the most prestigious and oldest award in the United States in the sector.