LeBron James and his decision to not “Shut Up and Dribble” is continuing to pay dues. This week, the Los Angeles Lakers superstar and his business partner Maverick Carter were named the first Black partners of the sprawling Fenway Sports Group, giving them an ownership stake in the Boston Red Sox among other interests.
The Boston Globe was the first to break the news that James and Carter would be joining FSG as partners after the announcement went wide on Tuesday (March 16). FSG, which is the parent company of the Red Sox and the English Premier League champs Liverpool Football Club, also welcomed RedBird Capital Partners after approving a $750 million private investment.
The aggressive move is being framed as FSG’s foray into obtaining some ownership stakes in other teams, and there are still some hurdles yet to be faced as officials at Major League Baseball will have to approve the move. James was already in the fold, after owning a 2 percent share of the Liverpool team dating back to 2011. James and Carter’s other holdings will also include an ownership stake in NESN, Roush Fenway Racing, and Fenway Sports Management.
With James being one of the most recognizable and business-savvy individuals in the world, the joining of forces comes as a big boost to FSG after obtaining the large infusion of cash from RedBird Capital.
James has said repeatedly that when his playing days are behind him, he hopes to own a basketball team or get in on the management level of an NBA team considering his vast knowledge and experience.