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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.

James responds to criticism from AC Milan striker Zlatan Ibrahimovic for his involvement outside of sport

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.

 

 

 

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