LeBron James Partial Owner of Boston Red Sox

today03/24/2021 46 1

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The Boston Red Sox have gained a global sports star as a partial team owner. LeBron James has bought a minor stake in the M.L.B. franchise at the same time that the team’s longtime ownership group received a $750 million infusion from a private-equity firm.

It was not clear how much James invested in the Fenway Sports Group, which owns the Red Sox and Liverpool Football Club, an English Premier League soccer team.

The investment from the private-equity firm, RedBird Capital Partners, places the value of Fenway Sports Group at around $7.3 billion, including its debt. In addition to the sports teams, F.S.G. owns Fenway Park, Roush Fenway Racing, the NESN regional sports network and Fenway Sports Management, a marketing company.

James, 36, a member of the Los Angeles Lakers who is in his 18th N.B.A. season, has a long history with F.S.G. He originally partnered with Fenway Sports Management in 2011, allowing it to represent his global marketing rights, and as part of that deal took a small ownership stake in Liverpool F.C. But by investing in F.S.G. itself, James added the Red Sox and other F.S.G. companies to his portfolio.

Written by: Samantha Watts-Hopkins

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