Basketball star LeBron James is joining forces with renowned hedge-fund manager John Henry and veteran Hollywood producer Tom Werner in a deal that brings together one of the biggest stars in sports and two of the world’s most renowned teams.
The deal between Mr. James and Fenway Sports Group will give Mr. James a minority interest in the soccer club Liverpool, which FSG owns. FSG, which also owns the Boston Red Sox, is partnering with Mr. James’s sports-marketing firm, LRMR Branding & Marketing to become the exclusive world-wide representative for Mr. James.
The deal marks the first time that a professional athlete at the top of his game has taken an ownership interest in a team with the size and reach of Liverpool, which is one of the most popular and powerful sports teams in the world.
Says Mr. Werner about the lucrative deal:
“We’re not interested in talent or athlete representation but we think he is one of the most remarkable athletes of his time,” Mr. Werner said in an interview Tuesday. “We believe we can open doors for LeBron and LeBron can open doors for us.”
Executives involved with the deal declined to comment on the financial terms, but a person familiar with the details said FSG would receive a small commission on any deals it landed for Mr. James.
Play on playa. We ain’t mad at ya…