LeBron James has received additional equity in Fenway Sports Group, two years on from becoming a member of their ownership group. But what does it mean?
James and his business partner Maverick Carter became part of FSG in early 2021 after increasing their stake in the Boston-based ownership group.
The basketball star is a less-significant shareholder but his status in the world of sport ensures high publicity, which lends itself to various marketing strategies.
Liverpool have already tapped into his legendary status with a Liverpool FC x LeBron James collaboration alongside Nike, which includes a special edition shirt and shoe.
On Friday, after company-wide meetings, Liverpool’s owners confirmed that James and his partner “will receive additional equity in FSM’s parent company FSG,” as part of a lifetime marketing deal.
The “strategic partnership” is one that will “continue to secure exclusive, global marketing and sponsorship opportunities” for James.
As Sportico report, “the extension deepens the business relationship between James, Fenway and private equity firm RedBird Capital,” the latter of whom bought 11 percent of FSG in 2021.
As for how this relates to Liverpool, it’s indirectly. James has a long-time association with Nike and Disney, and has equity and ownership in various companies.
It is his star and these relationships that are seen as key to the commercial growth of FSG and, subsequently, Liverpool – which we’ve seen this season, as abovementioned.
It does not play a part in any investment Liverpool are currently seeking, but James will continue to have a role to play in the growth of Liverpool as a brand.
Moreover, FSG’s meetings also confirmed that the Anfield Road End expansion is “currently on schedule” and that they are “prioritising finding an appropriate high-quality training facility for the club’s Women’s team.”