Joe Pompliano has a good understanding of what’s moving in the US sports business, and he believes LeBron James made a number of calculated chess moves that led him further toward the goal of owning an NBA team. On Twitter, Pompliano explains how the basketball star has progressed, and Liverpool FC is one of the chess pieces he used.
LeBron James will now become a billionaire, according to Forbes, but having an NBA team still isn’t enough. But he can get help from the owner of Liverpool club Fenway Sports Group.
As it is known, FSG owns the Boston Red Sox, Fenway Park, Liverpool FC and Anfield.
LeBron James first became involved with FSG in 2011, when FSG wanted to use the basketball star in its marketing. Instead of selling his services to the FSG for cash or a share of the profits, James accepted a 2% stake in Liverpool FC. It was just the beginning of a business adventure for the basketball portfolio.
Liverpool’s value has increased dramatically since 2011. Le Bron’s 2% was originally valued at $6.5 million, but Liverpool’s value has increased over time from $500 million to $4.5 billion. Thus, the value of Le Bron’s stake was approximately $90 million.
She replaced 2% at Liverpool with 1% at FSG
FSG raised $750 million last year by selling 10% of the company to RedBird Capital. In this regard, LeBron James became a partner in the FSG. According to Pompliano, he then exchanged his 2% stake in Liverpool FC for a 1% stake in parent company FSG.
The value of the two shares was approximately the same, $90 million, but the change made him part-owner of all FSG clubs.
FSG got 750 million because they wanted to buy more teams, preferably in the NBA and NHL. It wasn’t long before they bought the largest stake in Pittsburgh Penguins for about $900 million. But what about the NBA? This is where LeBron James comes in.
Obviously, the plan is to start an NBA team in Las Vegas, which will be headed by LeBron James. Pompliano has stated that at this point this is just speculation, but he believes LeBron James with his investment in Liverpool FC is close to reaching his goal of managing his own NBA team.
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