fb-pixel Skip to main content

Ties between LeBron James and Boston-based Fenway Sports Group could be on the verge of strengthening even more.

An investment consortium that includes RedBird Capital Partners, Nike, and FSG is in talks regarding a significant investment in James’s and business partner Maverick Carter’s SpringHill Company, according to a source familiar with the discussions.

The deal would represent a deviation from previous moves by FSG, which has purchased sports properties such as the Red Sox, Liverpool Football Club, and Roush Fenway Racing or, more recently, launched real estate ventures adjacent to and on parcels surrounding Fenway Park.

John Henry, principal owner of FSG, owns the Globe.

Advertisement



In March, James and Carter became partners at Fenway Sports Group after previously holding a stake in Liverpool.

LeBron James arrives at TD Garden before a 2020 game against the Celtics.
LeBron James arrives at TD Garden before a 2020 game against the Celtics.Matthew J. Lee/Globe Staff/The Boston Globe

Fenway Sports Management, the marketing arm of FSG, has represented James in assorted marketing and entrepreneurial ventures.

Paul Wachter, financial adviser to James, also became an FSG partner last spring.

Wachter is also the financial adviser to FSG chairman Tom Werner, who joined the board of directors of SpringHill Entertainment last year.

James, the NBA superstar and entrepreneur, has a lifetime endorsement deal with Nike, the global shoe and apparel leader.

Nike became Liverpool’s uniform supplier in the 2020-21 season, replacing Boston-based New Balance.

SpringHill Company, named after the Akron, Ohio, apartment complex James and his mother moved into when he was a sixth-grader, comprises entertainment content producer SpringHill Entertainment (“Space Jam: A New Legacy”); The Uninterrupted, an athlete-centric storytelling and merchandise platform; and brand consultancy and events production services.

LeBron James continues to expand his business empire.
LeBron James continues to expand his business empire.Willy Sanjuan/Willy Sanjuan/Invision/AP

RedBird, led by Gerry Cardinale, owns the Toulouse Football Club in France and, along with movie star Dwayne “The Rock” Johnson and Dany Garcia, is behind the XFL football league, scheduled to launch in 2023. RedBird also owns a stake in Wasserman, a leading sports and entertainment agency.

Advertisement



Cardinale helped build the YES Network for the New York Yankees.

Variety reported that the new investment by the consortium would value SpringHill at $650 million-$700 million.

Last year, SpringHill received a $100 million investment, led by Guggenheim Partners. Guggenheim Baseball Management owns the Los Angeles Dodgers.

RedBird Capital made a $750 million investment in FSG this spring, making it the third-largest stakeholder after Henry and Werner.


Michael Silverman can be reached at michael.silverman@globe.com. Follow him on Twitter: @MikeSilvermanBB.