LeBron James, the renowned basketball superstar and billionaire athlete, has set his sights on owning an NBA team in Las Vegas, a city he publicly expressed interest in. With a net worth of $1 billion and a desire to expand his ownership portfolio, James has a potential pathway to achieve his goal by acquiring a 1% stake in Fenway Sports Group (FSG). This strategic move could bridge the financial gap and pave the way for LeBron James to become a part-owner of an NBA franchise in the future.
LeBron James wants to own an NBA team in Las Vegas 👀 🎰
— BetOnline.ag (@betonline_ag) June 10, 2022
LeBron James’ Impressive Earnings
Forbes recently declared LeBron James as the first active player to join the elite billionaire club. His lucrative NBA career earnings have surpassed $431 million, a testament to his exceptional skills on the court. However, it is his endorsement deals with major brands like Nike, Walmart, and PepsiCo that have significantly contributed to his immense wealth, accumulating an estimated $900 million.
Despite his astronomical earnings, James is still some distance away from his aspiration of owning an NBA team. Las Vegas has emerged as the city where he envisions establishing his franchise, drawn by the vibrant sports culture and commercial opportunities it offers.
LeBron James’ Path to Becoming a Part-Owner of a Las Vegas NBA Expansion Team
Fenway Sports Group, renowned for its ownership of the Boston Red Sox and other prominent sports assets, could prove to be LeBron James’ lifeline in realizing his ownership dream. Initially, James held a 2% stake in Liverpool FC (LFC), a football club also owned by FSG. With the surge in Liverpool’s value, James’ share skyrocketed from $6.5 million to a staggering $90 million.
To leverage the growth in Liverpool’s value, LeBron James made a shrewd business decision. He converted his 2% ownership in LFC into a 1% stake in FSG, which still amounts to approximately $90 million. This move not only allowed him to maintain his valuation but also opened up new possibilities for his future ambitions.
By acquiring a 1% stake in FSG, LeBron James has positioned himself strategically to bridge the financial gap required to own an NBA team. As the value of NBA franchises continues to rise, with projections reaching around $3 billion by the time James has a chance to pursue ownership, his 1% stake in FSG could significantly contribute to achieving his objective.
LeBron James, the billionaire basketball icon, is actively pursuing his dream of becoming an NBA team owner. With a net worth of $1 billion and a 1% stake in Fenway Sports Group, James has taken a significant step forward in his journey. As he continues to excel on the court with the Los Angeles Lakers, James is simultaneously building his ownership portfolio, inching closer to the day when he can fulfill his desire to own an NBA franchise in Las Vegas. The convergence of his financial prowess and strategic investments sets the stage for LeBron James to make a lasting impact not only as an athlete but also as a sports business magnate.