National Basketball Association (NBA) superstar LeBron James has joined Fenway Sports Group (FSG) as a partner and increased his stake in Liverpool as a result, according to reports.
The Los Angeles Lakers forward purchased an undisclosed number of shares in FSG the report claimed, with the Group also preparing for a US$750 million investment from RedBird Capital Partners.
James has been involved with FSG since 2011 when he agreed a marketing deal in exchange for a two per cent stake in Premier League giants Liverpool FC.
The FSG ownership structure will see principal owner John Henry remain in control, while chairman Tom Werner stays as the second largest shareholder. RedBird Capital Partners now owns the third-largest share of the Group with president Michael Gordon fourth.
LeBron James' rise in the NBA has seen him become one of the most valuable and marketable players in the league's history, with Forbes claiming that the 36-year-old is expected to earn US$95.4 million in salary and endorsements this year, a figure that has actually been reduced due to salary cuts in the NBA after the coronavirus pandemic.
Author: Jake Wilkin