In April 2011, LeBron James acquired a 2% stake in Liverpool FC with his business partner Maverick Carter for $6.5 million. He acquired the shares when Fenway Sports Group (FSG) took ownership of the club.
The acquisition has turned out to be a shrewd business move by the Los Angeles Lakers forward, translating into millions of dollars. The NBA great recently relinquished his shares for a stake in FSG, along with his business partner Carter and Paul Wachter. According to Liverpool.com, James now owns about one percent of FSG.
In November this year, the NBA icon reportedly made an exceptional profit from his minority stake in Liverpool FC amid news the FSG is exploring the potential sale of the club. According to Mirror, his stake in the six-time European champions is now worth around $44 million. Aside from Liverpool, James has stakes in Boston Red Sox. The four-time NBA champion is also behind TV and movie studio SpringHill Entertainment. He has equity in brands like smart gym-maker Tonal and rideshare giant Lyft as well.
James, who has been with the LA Lakers since 2018, has a net worth of around $1 billion. It makes him the first active NBA player to become a billionaire. But Forbes said the big reason for his billionaire status is that he has been more than just a pitchman. “James has long structured deals to give him equity in brands he partners with, giving him a cut of the upside instead of a quick paycheck,” the platform wrote.
In 2015, James walked away from an endorsement agreement with McDonald’s, worth an estimated $15 million. Instead, he gambled on the fast-growing Blaze Pizza chain, where he’s an investor. Born on December 30, 1984, in Akron, Ohio, James started playing basketball in his infancy. Basketball soon became a way of life for him and when he joined his elementary school basketball team, he excelled.
His Nike endorsement deal came when he was only 18 years old. The basketball star’s partnership with Nike and his deals with brands like AT&T, PepsiCo and Walmart made him the second-highest-earning athlete in the world recently.