LeBron James joins FSG as partner increases stake at Liverpool
LeBron James has joined Fenway Sports Group as a partner, the Boston Globe reported, with the NBA star increasing his stake in Liverpool as a result.
The 36-year-old Los Angeles Lakers forward purchased an undisclosed number of shares in FSG, which has also approved a $750m private investment from RedBird Capital Partners, the Globe reported, citing a source with knowledge of the deal.
James has had a relationship with FSG since 2011, when he signed a marketing deal in exchange for a small ownership two per cent stake in Liverpool.
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Principal owner John Henry will remain in control of FSG, while chairman Tom Werner stays as the second-largest shareholder. RedBird Capital Partners now owns the third-largest share with President Michael Gordon fourth.
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According to Forbes, James is expected to make $95.4m in salary and endorsements in 2021, with $31.4m of that from his Lakers contract. He was supposed to make $39.2m this season, but players’ salaries are being reduced as the NBA works through the COVID-19 pandemic.