Lakers News: LeBron James Earning More Equity In Sports Ownership Group
Even if Lakers superstar LeBron James never captures an NBA title for the rest of his career, he will still be deemed a winner in about every area of his life. He has two sons who are among the most talented basketball players in their respective high school classes, will continue continuing launching movies and television shows with his own production company Springhill Entertainment, and has enough endorsement deals to last multiple lifetimes.
It is estimated that the King has made around $529 million off of NBA contracts alone. However, it is due to careful investing and multiple forms of income that saw the 38-year-old land on the Forbes list of billionaires to officially become a billionaire, per Forbes.
2023 has been no different for James as he continues to set himself up for financial success long after he retires from the game of basketball. He has reportedly committed to a lifetime deal with Fenway Sports Group who currently owns the Boston Red Sox, Liverpool FC, and Pittsburgh Pirates. This deal will allow the future hall of fame to gain more equity in the group's parent company and continue building a relationship that started back in 2021.
"FSM and LRMR Ventures have extended their longstanding strategic partnership into a lifetime deal that will allow FSM to continue to secure exclusive, global marketing and sponsorship opportunities for four-time NBA Champion LeBron James. As part of the agreement, James, and co-founder of LRMR Ventures Maverick Carter will receive additional equity in FSM’s parent company FSG."
This deal adds on to James' long list of partnerships with successful companies. He is best known for reportedly having another lifetime deal with Nike and other endorsements with Pepsi and Blaze Pizza (he owns a stake in the latter).
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