Basketball

Having Earned $126 Million In 2022, LeBron James Grows His Equity In Fenway Sports Group

Nithin Joseph
|Published Mar 10, 2023 08:30PM UTC

LeBron James is one of the richest athletes in the world. With his career earnings, endorsements, and investments, The King has accumulated a massive net worth of $1 billion. Given all that wealth, it comes as no surprise that LeBron is looking to expand his portfolio.

Well, James may have just made a massive move to do just that. According to reports, the four-time NBA Champion has increased his equity in Fenway Sports Group. A move that points towards the possibility of a LeBron-owned NBA franchise.

Also Read: “Old Damn N***a!”: LeBron James Interrupts Anthony Davis’ 30th Birthday Wishes By Mocking His Age

LeBron James has increased his equity in Fenway Sports Group, hinting at an NBA team purchase

Apart from being a Hall of Fame-worthy basketball player, LeBron James is also a successful businessman. Just last year, The King earned a mouth-watering $126 million. But, what is LeBron doing with all that money?

If reports are to be believed, the NBA’s all-time leading scorer is making a huge move. LeBron has just signed a lifetime marketing deal with Fenway Sports Group. A deal that increases his equity in FSG significantly.

Known for their ownership in sports teams like the Boston Red Sox, Liverpool FC, and the Pittsburgh Penguins, many believe this move suggests a possible future investment in a new NBA team. And, best of all, LeBron could be spearheading the ownership group.

Loading embed tweet https://twitter.com/novy_williams/status/1634188140276596736?ref_src=twsrc%5Etfw

Prior to the new deal, James and his business partner Maverick Carter had about 1% in FSG. This is a huge deal for all parties involved and the world will be watching keenly to see what happens next.

King James has aspirations to own an NBA franchise in Las Vegas

Given the current situation with FSG and LeBron James, it seems very likely that ownership of an NBA franchise is soon to come. However, LeBron isn’t interested in owning any old franchise. The King is specifically interested in bringing an NBA team to the city of Las Vegas.

Loading embed tweet https://twitter.com/FOS/status/1534953471954198528?ref_src=twsrc%5Etfw

Vegas is a big city, and LeBron is a big player. One thing is for certain, Sin City will most definitely welcome an NBA team, especially if King James is ruling.

Also Read: “Bronny James Reminds me of Jrue Holiday”: Gilbert Arenas Predicts 19/7/7 Statline For LeBron James’ Son in the NBA

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About the author

Nithin Joseph

Nithin is a content writer at The SportsRush. Like his favorite athlete Kobe Bryant, the company has helped Nithin elevate his writing skills to a whole new level, especially as an NBA content writer. With over 1500 articles to his name, Nithin's love for the sport knows no bounds. And, as he continues to watch the sport on a daily basis, he hopes his fascination with the NBA, especially the Miami Heat will inspire more and more readers to give the sport a chance. Perhaps, one day making basketball in India as big as it is in the United States.