LeBron James to join Red Sox ownership group

Aug 26, 2017; Las Vegas, NV, USA; Cleveland Cavaliers player LeBron James arrives during a boxing match at T-Mobile Arena. Mandatory Credit: Mark J. Rebilas-USA TODAY Sports

Los Angeles Lakers superstar LeBron James made an investment to join the ownership group of the Boston Red Sox, multiple outlets reported Tuesday.

James purchased an undisclosed amount of Fenway Sports Group shares, with the transaction reported on the same day the Boston Globe reported RedBird Capital Partners made a $750 million investment to join FSG.

Fenway Sports Group also is the parent company of Liverpool Football Club, the reigning champions of the English Premier League. James has owned two percent of the Liverpool club since 2011.

In addition to the Red Sox and Liverpool, Fenway Sports Group also owns Boston regional sports cable network NESN, as well as NASCAR’s Roush Fenway Racing and Fenway Sports Management.

James’ longtime friend and business partner Maverick Carter also became an investment partner in FSG on Tuesday.

Related: If you’re a fan of the Boston Red Sox, check out #RedSox rumors, rankings, and news here

RedBird Capital Partners reportedly will own an 11-percent stake in FSG, which has a value of approximately $7.35 billion, according to the Globe.

Principal owner John Henry will remain in control of FSG, while chairman Tom Werner remains the second-largest shareholder. RedBird Capital Partners now owns the third largest share with President Michael Gordon fourth.

According to Forbes, James is expected to make $95.4 million in salary and endorsements in 2021, with $31.4 million of that from his Lakers contract. He was supposed to make $39.2 million this season, but players’ salaries are being reduced as the NBA works through the COVID-19 pandemic.

James also is projected to surpass $1 billion in career earnings from salary and endorsements this year.

The only other athletes reported to have $1 billion in career earnings are Tiger Woods, Floyd Mayweather, Cristiano Ronaldo and Lionel Messi.

Related: If you’re a fan of the Lakers, check out #TheLakeShow rumors, rankings, and news here

–Field Level Media