Los Angeles Lakers star LeBron James will be increasing his equity in Fenway Sports Group (FSG). The move will be “part of a lifetime marketing deal” that James has recently signed.
James and Maverick Carter, James’ business partner, became part of FSG in 2021 after they had increased their stake, owning 1% of the Boston-based group. The new development, which was confirmed by FSG, states that both James and Carter will receive additional equity in FSG.
The agreement also strengthens the business partnership between FSG, LeBron James and private equity firm RedBird Capital. RedBird, led by Gerry Cardinale, bought 10% of Fenway for US$750 million in 2021 to pursue opportunities in sports.
RedBird is also an investor in SpringHill; SpringHill is also a partner in Naomi Osaka’s production company Hana Kuma, in which Fenway recently invested.
The Board of Control for Cricket in India (BCCI) has announced four new partners for…
Indian Premier League (IPL) franchise Mumbai Indians has roped in NIC Ice Cream as an…
The Royal Challengers Bengaluru (RCB) have announced a partnership agreement with online train utility and…
The SunRisers Hyderabad (SRH) have roped in Indian sleeping solutions company Centuary Mattress as their…
Red Bull Racing have signed a Title Partnership agreement with Ford Motor Company for the…
Olympic champion and star Indian athlete Neeraj Chopra has been announced as the latest brand…