A lot of Boston fans were probably feeling a bit conflicted on Tuesday when news broke that LeBron James -- longtime rival of the Celtics, not to mention a Yankees fan -- was now a part-owner of the Red Sox after becoming a Fenway Sports Group partner.
James is clearly pretty excited about becoming a bigger part of FSG, though, after previously owning a 2% share of the Liverpool soccer club, another FSG property. The number of shares James now owns in FSG has not been disclosed.
James discussed his FSG partnership late Tuesday night after the Lakers’ win over the Timberwolves, highlighting in particular the historic significance of he and business partner Maverick Carter becoming the first two Black men to be part of Red Sox ownership.
“Well first of all, it’s great to be with such a great group with FSG,” James said. “They’ve done so many great things over the years, and just that collective group of people, they’re just amazing to be partners with. As far as the Red Sox, obviously a historical franchise. We know the history of the World Series championships they’ve brought back to Boston and the players that have come through there and the legacy that they hold in that area.
“I think for me and my partner, Maverick, to be the first two Black men to be part of that ownership group in the history of that franchise, I think it’s pretty damn cool. It gives me and people that look like me hope and inspiration that they can be in a position like that as well, that it can be done. It gives my kids at my I Promise School more and more inspiration as well. But it’s a great day for myself, for my family, for my school, for my business partner, Maverick Carter, and everyone that has something to do with our group. It’s a pretty amazing thing, and for me to continue to build my portfolio off the floor, also in a beautiful game like baseball.”
FSG on Tuesday also approved a $750 million private investment that would make RedBird Capital Partners its third-largest partner with an 11% stake, contingent on approval by Major League Baseball. That move combined with the additions of James and Carter are reportedly part of a plan to expand FSG’s portfolio, with teams in the NFL, NBA and NHL -- among other North American leagues -- and further expansion into European soccer all on the wish list.
The top of FSG’s leadership will be unchanged, with John Henry remaining principal owner, Tom Werner chairman, and Michael Gordon president.
FSG was founded in 2001 as New England Sports Ventures and has owned the Red Sox since 2002, helping them win four World Series in 2004, 2007, 2013 and 2018. They purchased Liverpool F.C. in 2010 and helped lead them to their first Premier League title in 30 years in 2020.
Earlier this year, Forbes ranked FSG as the fourth-most valuable sports empire in the world at $6.6 billion.