LeBron James is increasing his equity in Fenway Sports Group - the owners of Liverpool, Boston Red Sox and Pittsburgh Penguins.
US business outlet Sportico reported this afternoon that James will strengthen his involvement as "part of a lifetime marketing deal" which was recently signed.
And in a statement released by FSG today, the details were confirmed. The group said: "FSM [Fenway Sports Management] and LRMR Ventures have extended their longstanding strategic partnership into a lifetime deal that will allow FSM to continue to secure exclusive, global marketing and sponsorship opportunities for four-time NBA Champion LeBron James.
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"As part of the agreement, James, and co-founder of LRMR Ventures Maverick Carter will receive additional equity in FSM’s parent company FSG. James and Carter became members of FSG’s ownership group in 2021."
The relationship between the LA Lakers superstar and Liverpool goes back some 11 years with Fenway Sports Management, part of the FSG empire, initially wanting LeBron to become a client of theirs back in 2011.
FSG agreed to James's request of being handed a stake of two per cent in Liverpool as part of that early deal, something that held a value of around £4.5million at the time. Then came a bigger move in March 2021 as that stake of two per cent in the Reds was accreted into one per cent of FSG's overall operations.
The new agreement for James emerging today means he will extend his equity with FSG with a "lifetime deal".
With the FSG empire now valued in excess of $10bn, James's decision back in 2011 has paid off - and that £4.5m has turned into assets of around £100m.
James, 38, has played a huge role in Liverpool's kit deal with Nike and the LeBron range was launched earlier this year - much like Paris Saint-Germain's collaboration with Michael Jordan.
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