FSG, the owners of Liverpool, have reached an agreement to strengthen their cooperation with LeBron James.
Fenway Sports Group, the owners of Liverpool, has teamed up with Nike and RedBird Capital Partners to invest in basketball sensation LeBron James’ SpringHill Entertainment Company.
The entertainment company, which was formed by Liverpool supporter James and his business partner Maverick Carter, is worth roughly £529 million ($725 million) and combines James and Carter’s commercial holdings through SpringHill Entertainment, Uninterrupted, and the Robot Co marketing firm into one.
FSG is the project’s second largest investor, trailing only RedBird Capital Partners, a private equity firm led by Gerry Cardinale that bought an 11% part in the Reds’ ownership for $750 million earlier this year.
FSG is believed to have taken a’significant share’ in the company, which has been joined by Liverpool kit suppliers Nike and Epic Games in the deal.
James and Carter, who became FSG partners as a result of the reshuffle following RedBird’s March investment in FSG, will keep a controlling stake.
SpringHill will partner with FSG on “original content in and around the sports, teams, and venues linked with FSG,” which includes the Boston Red Sox and NASCAR club Roush Fenway Racing, among other things.
“What I really enjoy is that we’re sponsoring two people who, individually and collectively, are very unusual in the confluence of sports and culture and their ability to be catalysts for growth, empowerment, and diversity,” Cardinale, RedBird’s founder and managing partner, told Sportico.
“I’d be hard-pressed to find a firm and two individuals who are in a position to really advance that if you look at what’s been going on in society and the ability of sports to effect that in a positive way.” I’m honored to have been a part of it.” SpringHill Co. has a number of important projects in the pipeline, including the summer release of Space Jam: A New Legacy, in which James reprises the lead role made famous by Michael Jordan in the 1996 blockbuster Space Jam.
Through its ties with ABC, the company has a number of important collaborations in the United States. “The summary has come to an end.”