Lebron James May Be On his Way to Owning a Team

NBA Basketball legend LeBron James has increased his stake in Red Sox parent company Fenway Sports Group.

The move marks the pro basketball player’s first steps toward owning a pro team himself.

James, as well as his business partner Maverick Carter are now part owners of Fenway Sports Group, which is valued at over $6 billion.

The National Basketball Association star is a minority owner in Fenway Sports Group (FSG), the parent company of the Boston Red Sox. The franchise is valued at over $3 billion according to Forbes.

The Los Angeles Lakers player’s agent Rich Paul confirmed the ownership stake to CNBC while the Boston Globe first reported James’ involvement.

James and Carter are both the first two Black owners within FSG.

Rich Paul has called James and Carter’s involvement with FSG as a sign of things to come for the basketball icon.

“It’s breaking down the barriers,” Paul told CNBC this week. “You’re talking about a game that was once limited. Jackie Robinson and Roberto Clemente – guys like that people didn’t even want to play the game. The Negros had to have their own league to us now owning and representing in that business sector. It’s a testament to us continuing to evolve and not being complacent.”

“Hell yeah. He’s extremely serious about sports ownership,” said Paul when asked if James is serious about becoming an owner of a pro team.

According to Paul, James will hold on to his stake as he navigates the MLB ownership space to pursue one day running a team.

“I don’t see him selling. He doesn’t need the money,” Paul confirmed. “I can’t wait for him to be on the other side as an owner.”

The NBA league rules preventing current players from owning portions of the NBA or WNBA.