LeBron James sells a portion of his SpringHill video production company for $725 million.
LeBron James, the NBA’s best player, sold a stake in his video production company SpringHill for $725 million to Redbird Capital Partners, Fenway Sports Group, Nike, and Epic Games on Thursday.
SpringHill, which was launched in 2007, will remain majority owned by James and CEO Maverick Carter.
SpringHill will be able to develop its present operations as well as explore new categories and worldwide markets with the new funding.
According to SpringHill, Epic, the maker of the video game “Fortnite,” will “add fresh material to the metaverse.”
“We will be able to empower our community and every artist to produce their most inspiring work and achieve their most ambitious aspirations with this new set of investors who are the greatest in their respective sectors,” SpringHill CEO Maverick Carter said in a statement.
“Maverick and LeBron have constructed an exceptional media content platform led by a creative leadership team that has built a distinctive mission-driven brand,” said Redbird Capital Founder Larry Cardinale in a statement. Our relationship with SpringHill should allow us to collaboratively optimize that objective with scalable capital and a business-building approach that will continue to elevate more diverse voices and a push for more empowerment.” “Space Jam: A New Legacy” and HBO’s “The Shop,” in which the cast sits down and interviews various athletes from various sports, are two of SpringHill’s projects. The rapper Drake will star in the upcoming documentary “Black Ice,” which will focus on the lives of Black hockey players.
“As a youngster from Akron, Ohio, I didn’t grow up watching hockey, liking hockey, or even knowing hockey because no one played hockey where I came from,” Carter said. “However, Black Canadians, like the rest of the country, like hockey. There is an undiscovered story of Black athletes and their contributions to the sport, just as there is in other sports in America and around the world.” Carter also mentioned SpringHill’s incredible diversity, pointing out that half of the production company’s workforce are women, and two-thirds are people of color.
“We’re all about that.” And that’s what leads to amazing innovation because you have conversation when you have people in the room that are different not only in race or gender, but also in environment, where they come from, and what they think. “Great ideas come from great discourse,” Carter added.