FSG – LeBron James has joined Fenway Sports Group as a partner, the Boston Globe reported, with the NBA star increasing his stake in Liverpool as a result.
The 36-year-old Los Angeles Lakers forward purchased an undisclosed number of shares in FSG, which has also approved a $750m private investment from RedBird Capital Partners, the Globe reported, citing a source with knowledge of the deal.
Fenway Sports Group did not respond when approached for comment by Reuters.
James has had a relationship with Fenway Sports Group since 2011, when he signed a marketing deal in exchange for a small ownership – two per cent – stake in Liverpool.
Principal owner John Henry will remain in control of FSG, while chairman Tom Werner stays as the second-largest shareholder. RedBird Capital Partners now owns the third-largest share with President Michael Gordon fourth.