NBA Rumor: LeBron James Business

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LeBron James officially a billionaire

LeBron James–18-time NBA all-star, 4-time NBA champion, 2-time Olympic gold medalist–has hit yet another milestone, this time doing something no other NBA player has ever done. After another monster year of earnings–totaling $121.2 million last year–Forbes estimates that James has officially become a billionaire, while still playing hoops. The 37-year-old superstar has a net worth of $1 billion, by Forbes’ count. James, who’s missing the playoffs for just the fourth time in 19 seasons, is the first active NBA player to make the billionaires list. (Michael Jordan, the only other basketball billionaire, didn’t hit ten figures until 2014, more than a decade after he retired, thanks to a well-timed investment in the Charlotte Hornets basketball team.)

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But the real key to James’ billion-dollar fortune: He’s been more than just a pitchman. James has long structured deals to give him equity in brands he partners with, giving him a cut of the upside instead of a quick paycheck. In 2015, James walked away from an endorsement agreement with McDonald’s, worth an estimated $15 million over four years, to instead gamble on the fast-growing Blaze Pizza chain, where he’s an investor. He’s taken equity in brands like smart gym-maker Tonal and rideshare giant Lyft as well. Then there’s SpringHill, the TV and movie production outfit built by James and business partner Maverick Carter. Last October, outside investors including Boston Red Sox owner Fenway Sports Group and Epic Games bought into the venture–which helped produce the $163 million (worldwide box office gross) Space Jam: A New Legacy and HBO documentary What’s My Name: Muhammad Ali–at a $725 million valuation. James, of course, remains the biggest shareholder.

LeBron James ranked as the highest-paid athlete in the world

The Los Angeles Lakers fell well short of expectations on the court this season, despite LeBron James, 37, continuing to defy Father Time with the second-highest scoring average in the league and second-highest of his career. Off the court? King James crushed it. The 18-time All-Star earned $127 million during the past 12 months from the Lakers and his expanding off-court empire, according to Sportico estimates. It is the highest tally of his two-decade career and more than any other athlete on the planet.

James has definitely been thinking about the back end. The biggest business for James and his longtime business partner, Maverick Carter, is The SpringHill Company, which was founded in 2015 and encompasses production company SpringHill Entertainment, Uninterrupted and brand consultancy Robot. SpringHill sold a minority stake last year to a consortium led by Gerry Cardinale’s sports-focused RedBird Capital, which also included Nike, Epic Games and FSG. The deal valued the company at $725 million. Revenue for SpringHill is expected to be north of $100 million this year. Most of the cash infusion is expected to go toward building the company, and Sportico gave James only a marginal bump to his off-court earnings, which totaled $90 million, by our count.

James’ fellow NBA MVPs, Stephen Curry ($86.2 million) and Durant ($85.9 million) rank sixth and seventh among the highest-paid. Curry has his own brand within Under Armour, and a multimedia company, Unanimous Media. Durant’s Thirty Five Ventures is run by his longtime business partner Rich Kleiman. It has 32 full-time employees focused on KD’s endorsements, an 80-plus company investment portfolio, film and TV projects, as well as sports and entertainment business media network Boardroom.

LeBron James partners with

They have already learned firsthand about how things drive and soar from Goodyear. How toys are made and designed by Little Tikes. And now Akron students participating in his I Promise program are going to venture into the Metaverse. NBA star LeBron James has announced a new partnership between and his namesake foundation to help Akron kids — some 1,600 in all — to learn firsthand not only how cryptocurrency works, but the technology behind it and all the ways it will impact their lives and potential career paths in the future.

“It’s been amazing to see how many doors we’ve been able to open for my I Promise students and their families through the work we do with our partners and what we’re building with House Three Thirty,” James told the Beacon Journal through a spokesperson. “It’s important to me that we keep opening those doors – especially when it comes to Web3 and our digital future. “I’m still learning as everything keeps evolving, and now with, I want to make sure my kids and families are part of that as well.”

LeBron James close to becoming a billionaire

James already reached a financial milestone this year when he surpassed $1 billion in career earnings before taxes and agents’ fees, pushing his net worth to roughly $850 million, according to Forbes estimates. He continued his march toward billionaire status this week when his media and entertainment business, the SpringHill Company, announced the sale of a minority stake at a valuation of about $725 million.

The SpringHill Company, an entertainment & production company founded by LeBron James and his business partner Maverick Carter, announced yesterday that a group of investors was acquiring a “significant” minority stake in the company. The investment group was led by New York-based private equity firm RedBird Capital Partners and included Boston Red Sox & Liverpool owner Fenway Sports Group, apparel giant Nike, and “Fortnite” maker Epic Games. The deal reportedly values The SpringHill Company at $725 million and Maverick Carter (CEO) & LeBron James (Chairman) will still maintain a controlling interest.

LeBron and Maverick had capital, access, and distribution when they started SpringHill years ago, three of the main ingredients to building a success production company, but partnering with RedBird Capital, Fenway Sports Group, and Epic Games will multiply that. Of course, the nine-figure capital infusion supercharges everything. Still, the access can’t be understated either. RedBird’s portfolio of investments includes YES Network, the regional sports network of the NY Yankees, the XFL, a relationship with the NFL, and even a European football club.

According to Liverpool Echo journalist Matt Addison, the said idea will definitely do all parties involved good and a project should be done sooner rather than later. Based on Addison’s assessment, through adverts starring Salah and James, it will just be a matter of time before Liverpool can “catch up in revenues” with its London rivals Manchester United, who has Cristiano Ronaldo on its squad. “There’s almost a bit of me that wonders if Liverpool have got enough out of him [Salah] commercially, marketability wise in all sorts of countries,” Addison said on the podcast. “We talk so often about the Nike kit deal, one of the areas in which Liverpool can help them catch up in revenues with Manchester United. They could’ve made even more of Salah given the status he rightly holds.”

Following his starring role in the Space Jam remake, LeBron James is heading back behind the camera to produce Rez Ball, a Native American basketball drama for Netflix. Rez Ball is described as Friday Night Lights meets Hoosiers. The story, according to the project’s description, “follows the Chuska Warriors, a Native American high school basketball team from Chuska, New Mexico, that must band together after losing their star player if they want to keep their quest for a state championship alive. It’s an all-American underdog story about Navajo kids and coaches told from the inside-out.”

LeBron James becomes first active billionaire NBA player

LeBron James, 36, will be hard-pressed to beat MJ’s six NBA titles—he trails by two—but he already tops Jordan in another category—first NBA player to crack $1 billion in career earnings while still active. Jordan fell short of $1 billion during his playing career, even adjusted for inflation. Don’t shed a tear for MJ, though. His highest annual earnings have come in retirement, thanks to skyrocketing revenue at Nike’s Jordan Brand, and Jordan’s total earnings are now roughly $2 billion since he left Chapel Hill for the NBA in 1984.

Since being drafted in 2003, James has earned $330 million in playing salary—net of recent escrow deductions—and another $700 million off the court from endorsements, merchandise, licensing and his media business. Current endorsement partners AT&T, Beats, Blaze Pizza, GMC, Nike, PepsiCo, Rimowa and Walmart help James earn more than $100 million annually. The latest addition is Epic Games, where Fortnite players will have access to a pair of James-themed outfits or “skins.”

Joe Pompliano: They let LeBron bring his own bottle of tequila into the arena tonight 😂 LeBron James, Maverick Carter, Rich Paul, Anthony Davis, and Draymond Green are all investors in the “Lobos 1707” brand. LeBron James: They let me??? Ok we’ll go with that! “BYOT” Bring Your Own Tequila! 😄😎🐺🐺🐺🐺🐺 @Lobos1707

From a content perspective, it’s SpringHill’s biggest project yet. The film is a platform for several brand partnerships too. Here are the biggest ones: Microsoft Xbox: Microsoft released three exclusive Space Jam controllers and a new video game. Nike and Converse: an apparel collection featuring new sneakers, the LeBron 19s, LeBron 18 Lows, Air Force 1s in toddler sizes, and Chuck Taylors. McDonald’s: SpringHill got Space Jam toys in Happy Meals—a place that’s been held on lock by Disney and Marvel characters Fortnite: LeBron now has a Space Jam-themed skin in Fortnite Nifty: free Space Jam-inspired NFTs for up to 91,000 guests

SpringHill Co., led by LeBron James and Maverick Carter, is in early discussions with a range of potential investors to sell a piece of the media and entertainment firm that would value it at upwards of $750 million, Variety confirmed. The inbound interest in SpringHill has ranged across industries. Parties that have engaged with SpringHill on a potential deal have included Nike, as well as streaming-video providers and tech companies, according to a source familiar with the talks.

The 120-employee SpringHill’s projects include “Space Jam: A New Legacy,” starring James alongside a crew of Looney Tunes favorites, which Warner Bros. is releasing July 16 on HBO Max and in theaters. The company also is currently in production on “House Party” for New Line, as well as the Adam Sandler-led “Hustle” for Netflix. And on Monday, ViacomCBS’s Nickelodeon and Awesomeness Films announced an original live-action movie “Fantasy Football,” executive produced by SpringHill Co. in partnership with Genius Entertainment, about a 15-year-old girl who discovers she can control her professional football player dad’s prowess on the field through her video game; production is set to begin in early 2022.

There is a rumor in basketball circles that James owns a large stake in Klutch. Paul described such talk as an attempt to undermine him. “So why is it that LeBron has to own Rich Paul’s business?” he asked. “Let me tell you what that’s about. That’s all putting things in the atmosphere to discourage, right? That’s all they want to do.” Zimmer said, “LeBron doesn’t own Klutch Sports,” and the N.B.A. agrees. The spokesman for the league said, “Current players are prohibited under the Collective Bargaining Agreement between the N.B.A. and the Players’ Association from holding an equity interest in a business entity that represents other players. We have seen nothing to suggest Klutch Sports is in violation of this restriction.”

Brian Windhorst, an ESPN reporter who has known James for more than two decades and has written several books about him, told me, “The burden that Rich faces is that people question his legitimacy. They want to delegitimize him because of his race, because of his lack of education, because he used to sell jerseys out of the trunk of his car. If that’s the best they can do, they have to do a lot better.” When I asked him about James’s role in Klutch, Windhorst cut me off: “Is there some secret arrangement? So what if there is? If he tosses LeBron some sort of kickback, so what?” He added, “Rich may have been pulled up on his feet by LeBron, but he grew his own wings.”

The endorsement climate has dried up for many athletes, with companies watching their spending following the uncertainty of the past year. But global stars like Osaka and LeBron James continue to be in high demand. Osaka landed a bevy of new partners, while James signed a long-term deal with PepsiCo this year to help the company launch its new Mtn Dew Rise Energy drink. The pact, plus his upcoming starring and producing role in the Space Jam: A New Legacy movie, pushed the King’s earnings to a career-high $101.8 million, fifth-best in sports. “Brands and marketers are being more discretionary in where they’re spending their money and don’t necessarily want to run the risk on mid-level athletes,” said Bob Dorfman, a sports marketing expert at Baker Street Advertising. “The big names cost more, but they’re sure things.”

The original Space Jam was made for $88 million and released on Nov. 15, 1996. It generated $230 million worldwide in its theatrical run (which is $364 million in today’s dollars). The sequel’s budget is $162 million. Even if the new film is a dud, and there are SpringHill shows that flop, James will be fine, Squire said. “The risk is the same as for any entertainer who is in the establishment phase of entertainment, and he’s beyond the establishment phase because he has a lot of deals going on,” he said. “He’s diverse enough that his companies and holdings can withstand a cancellation here and there.”

Another SpringHill project is a movie adaption of the “Shooting Stars” book that was a collaboration by James and “Friday Night Lights” author Buzz Bissinger, who has plenty of experience in the entertainment industry. The story is about James growing up in Akron and his early basketball days with his friends. While not involved with the “Shooting Stars” adaption — James owns the film rights — Bissinger said James has the qualities to survive an entertainment industry that can be as savage as anything he experienced on the hardwood. “He is smart and ambitious and enjoys the L.A. glamour,” Bissinger said. “It is a tough business. Many have tried and more have failed. On the other, Hollywood is all about starfuckers and there is no star in the world bigger than LeBron. He talks, they listen.”

LeBron James has won four NBA titles with three teams, but he’s only on his second soft drink sponsorship — the King switched to Pepsi earlier this year after 17 years with Coke. While James may eventually expand his endorsement to Gatorade or other Pepsi products, for now his assignment is to build up the company’s main energy drink: Mtn Dew Rise. “We know it’s a crowded category,” James told CNBC. “But we believe there’s more room.” Global energy drink sales reached $57.4 billion in 2020, and the industry is expected to grow 7% on average annually.

On Wednesday, RedBird Capital Partners invested $750 million into Fenway Sports Group, the controlling company of not just the Sox, but another iconic franchise, Liverpool F.C. Coinciding with that transaction, LeBron and his longtime friend and business partner, Maverick Carter, traded in their 2 percent ownership of the English football club to join the Fenway ownership group at large. Three hours after the deal was finalized, the chairman of both storied organizations, Tom Werner, spoke with The Athletic to discuss what it would mean to have LeBron, 36, and Carter, 41, onboard like this. At one point, Werner was asked, specifically, how Liverpool had already benefited from being associated with an NBA legend like LeBron? Unprompted, this is what Werner said:

“We want to feel that the Red Sox are an inclusive place where everybody feels welcome. And while that may seem like an obvious notion today, the Red Sox have had a very complicated history when it comes to race relations. We work very hard to create a more diverse and inclusive organization from top to bottom. And I’m excited that LeBron and Maverick are owners of the Boston Red Sox because I believe this helps provide better representation of baseball to our fans.”

What does that mean for Liverpool? This is a move that could change the landscape of sports in the U.S., and will certainly have an impact on Liverpool. Werner clearly thinks LeBron and Carter could transcend all of Fenway Sports Group, including the defending Premier League champs. Nothing will be off-limits to them. “I will be surprised actually if they don’t weigh in (on management decisions of either team), I would welcome their thoughts,” Werner said. “I think that the relationship that the consumer has with a sporting team is an emotional one. I consider Maverick to be one of my closest friends, and I’ve spent hours with him talking about strategy, coaching, the lessons that I’ve learned from (Liverpool manager) Jurgen Klopp, and the lessons that he’s learned as an astute observer of basketball.

While Henry remains the principal owner of Liverpool, Werner has the second-highest number of shares. RedBird’s investment means it now has the third-biggest stake in the club, ahead of Mike Gordon — who effectively serves as Liverpool’s general manager. Neither LeBron nor Carter will suddenly be providing input on the balance of Klopp’s midfield or who should be targeted as Georginio Wijnaldum’s replacement this summer. But they will have a significant role in the direction of the club’s commercial strategy, and their contacts will at some point benefit recruitment — which impacts on-pitch strategy.

LeBron, now 34, hasn’t been shy about his desire to be an owner. But when he, or just about any athlete who’s still playing, says he wants to own a team one day, it can sound like a bit of a lark, akin to “I’d like to own a pony.” What few realize is that LeBron, with the help of people he trusts the most, has been making maneuvers and preparations so that if he were to retire today, and an NBA franchise was for sale tomorrow, he could place a bid. He not only has the finances to be a primary investor, but enough of the right people around him, and enough cache built in the league, to pull it off. As LeBron told The Athletic in one of two conversations about this: “Ain’t no maybe about it, I’m going to do that s—.”

So when LeBron first mentioned NBA ownership to Wachter, the response was: There are things we can do to make sure this happens. “I have a pretty good idea of what it takes to be a great sports team owner, from having watched the Fenway ownership group and others I know, and there is zero doubt in my mind that LeBron will be a great owner,” Wachter said. “I would bet the ranch on that. He has all the same qualities. He’s preparing for it, he’s studying for it, he’s watching owners in many sports, trying to learn best practices. He and Maverick both. I promise you LeBron has no interest in being a second-tier owner.”

LeBron has an idea about whom he might hire as his first general manager, mentioning former Miami and Cleveland teammate James Jones, who’s now the interim GM in Phoenix. Brandon Weems, a childhood friend of LeBron, is a front-office executive with the Cavaliers. LeBron seeks to empower those close to him — always has. “I want to stay around the game of basketball,” LeBron said earlier this month, in a second conversation with The Athletic about his next big thing.

This was a significant step in the path James very well might take to realize a goal of becoming the controlling owner of a pro sports franchise. He could do it by following the avenue Jeter blazed with lessons from former MVPs-turned-owners such Michael Jordan and Magic Johnson. “If LeBron retired tomorrow, he probably could put together a group with enough capital to buy an NBA team in a short period of time,” said an investment banker who has advised on NBA team sales in the past. “The trick is finding a group that would put up that kind of money and allow him to be the controlling partner if he’s not putting in the most money. That’s a harder deal to strike. But he is the type of athlete and businessman who might be able to do it.”

For James, his long and expanding relationship with FSG could eventually be that type of vehicle. James and business partner Maverick Carter first joined primary owners John Henry and Tom Werner in 2011 when he acquired 2% of Liverpool FC as part of a marketing deal with FSG. Now, James is in business with Redbird’s Gerry Cardinale, who has a long history of making deals with sports teams such as the New York Yankees and the Dallas Cowboys and recently bought half of the XFL with partner Dwayne Johnson.

Forbes recently projected James to surpass $1 billion in career earnings from his NBA salary and endorsement deals this year. That estimation doesn’t take into account his investment success. For example, his initial $6.5 million stake in Liverpool FC is now believed to be worth more than $40 million, as the team climbed from the $477 million FSG paid to more than $2 billion today. Among other scores, he brought in an eight-figure haul when Apple purchased Beats, where James had an equity stake, for $3 billion back in 2014.

LeBron James serious about becoming pro sports owner

LeBron James, one of the most notable athletes globally, is now part-owner of one of the most valuable sports empires. The National Basketball Association star is a minority owner in Fenway Sports Group (FSG), which owns the Boston Red Sox, a franchise valued at over $3 billion. James’ agent Rich Paul confirmed the ownership stake to CNBC. The Boston Globe first reported James’ involvement. The publication notes James and business partner Maverick Carter are the first two Black owners within FSG. The firm itself is valued at over $6 billion, according to Forbes.

Also joining James as a new FSG partner is Maverick Carter, James’s longtime business partner and friend. Carter and James become the first Black partners in FSG’s history. On FSG’s shopping wish list are NFL and NBA franchises, another European soccer club, NHL, MLS, WNBA, and NWSL teams, plus sports betting, esports, and data analytics companies. The RedBird cash infusion will give the New York-based firm an 11 percent stake of FSG, which will have an enterprise value of approximately $7.35 billion. FSG will have $600 million-$700 million in debt, with more than $600 million cash going out to existing partners.

Carter and James, who played high school basketball together in Akron, Ohio, have been improvising like this off the court for almost two decades. Their partnership has strengthened as each has matured—Carter as a thoughtful and strategic CEO; James as a professional athlete whose brand and identity extends into social justice. Together, they’ve built the SpringHill Company into a multipronged entertainment empire that furthers their goals to build a movement, empowering communities while striving for the excellence of Disney, Nike, and Apple. The company has married its mission of promoting people of color and other underrepresented groups with entertainment. “They want to make content that’s meaningful and rooted in the cultural conversation,” says Courtney Sexton, senior VP of CNN Films, which is a producer on SpringHill’s forthcoming documentary on Tulsa’s Black Wall Street and the 1921 race massacre.

Until recently, SpringHill was a loosely organized constellation of production and marketing arms, but last summer James and Carter unified the company under one banner, raising $100 million and intensifying its sense of purpose. In the months since, SpringHill has signed a flurry of deals with Amazon, Netflix, Sirius, and Universal, among others, cementing its position as a powerful player in Hollywood. “We’re always pulling that thread of our mission in everything that we do and bring to life,” says Carter, a boyish 39-year-old whose laid-back vibe belies what his many admirers describe as his deep commitment to understanding every aspect of the business.

Executive produced by James and Carter as part of their Uninterrupted brand, Top Class follows six principal players during the highly publicized 2019-20 season of Sierra Canyon School’s boys basketball program. The back-to-back state champion Trailblazers exploded onto basketball’s national stage with one of the highest-profile classes in history, including some of the nation’s highest-ranking players: BJ Boston, Amari Bailey, Bronny James, Shy Odom, Zaire Wade and Ziaire Williams.

The sports nutrition company Ladder, which James started with Arnold Schwarzenegger as well as a host of other investors and athlete personalities, has been acquired by the digital fitness company Openfit to be the company’s official nutrition provider. Openfit announced the acquisition on Wednesday and LeBron James celebrated the news on social media on Wednesday morning as well. “After pushing my body to its limits season after season, I needed a different level of supplements that I could trust to complement my workouts and aid in the recovery process. With Ladder, we achieved that. We were able to work with experts to create an incredible line of certified, high caliber supplements for all athletes, but we always recognized that is just one part of the process,” said LeBron James, champion athlete and Ladder co-founder in a press release about the acqusition. “Now with the reach and resources of the Openfit platform, we’re excited about bringing this all together and creating a new level of training and nutrition that fits everyone’s individual needs.”

“With the Javaris thing, you gotta remember, this wasn’t a beef,” Arenas said. “Out of all the players on the team, probably Javaris was the most consistent coming to my room when we landed. Just to talk basketball, watch film, just talk about life, what can he do to improve.” Fueled by anger, Arenas said he considered writing a book six years ago about how his tenure with the Wizards ended, but he ultimately decided against it. He told Buckhantz and Chenier that LeBron James’s production company is interested in doing a story about his life, which would focus on the happier moments of his career.

LeBron, now 34, hasn’t been shy about his desire to be an owner. But when he, or just about any athlete who’s still playing, says he wants to own a team one day, it can sound like a bit of a lark, akin to “I’d like to own a pony.” What few realize is that LeBron, with the help of people he trusts the most, has been making maneuvers and preparations so that if he were to retire today, and an NBA franchise was for sale tomorrow, he could place a bid. He not only has the finances to be a primary investor, but enough of the right people around him, and enough cache built in the league, to pull it off. As LeBron told The Athletic in one of two conversations about this: “Ain’t no maybe about it, I’m going to do that shit.”

Backstage, Oscar winner Octavia Spencer, who also is one of Green Book’s executive producers, told The Undefeated a bit about her next project, in which she’ll be portraying Madam C.J. Walker in a limited series for Netflix. Spencer will both star in and executive produce the eight-episode story of a woman who went from washing clothes to becoming the first African-American female millionaire — and she’s doing it with LeBron James, who is producing along with her.

Chris Robinson, best known for his work on the Fox TV series “Star,” has been tapped to direct Universal’s untitled LeBron James movie. Juel Taylor and Tony Rettenmaier wrote the script for the film, which is based on James and Buzz Bissinger’s book, “Shooting Stars,” and the events of James’ life. Taylor is an alum of the Universal Writers Program, which aims to find up-and-coming and experienced creators who incorporate diverse and global perspectives into screenwriting.

Even since James rejoined the Cleveland Cavaliers four years ago, rumors have swirled that he would one day buy the team. On the same day the 4-time MVP returned to face the team he spent 11 seasons of his career with, Maverick Carter lent some credibility to that fan fantasy, telling ESPN’s Rachel Nichols he could see James one day buying the Cavs. “I think if this team was up for sale, he’d definitely one of the people who’d look at buying it,” Carter, James’ friend and business partner, told Nichols. “For sure.”

LeBron James’ SpringHill Entertainment and Vertigo Entertainment, the latter of which produced It, are in talks to team up to produce a new iteration telling of the gory happenings at Camp Crystal Lake, The Hollywood Reporter has confirmed. While the intense interest in Halloween is partly a factor in the coming-together reboot, another is the legal case, decided just under a month ago, which saw original Friday the 13th screenwriter Victor Miller regain the rights to his screenplay.

Steve Soute, who along with James co-produced the HBO documentary Student-Athlete, which cast the NCAA as corrupt, said James is engaged in the entertainment projects. “He has an active interest in reading scripts and looking at content,” Soute told USA TODAY Sports, “and knowing what stories he wants his name attached to.” It hasn’t taken long for James to capitalize on living in Laker Land. In July, paparazzi got tipped off and documented James emerging with Al Pacino and Leonardo DiCaprio after dinner at a restaurant in Beverly Hills. Since announcing his decision to leave the Cleveland Cavaliers to join the Lakers, James has granted just one extensive interview – to The Hollywood Reporter.

Smith was walking around East Lansing, Michigan (the Cavs play the Pistons on Friday) when he started joking about how LeBron is following him everywhere. “I can’t go nowhere and get away from this motherf**ker,” Smith said while pointing the camera at a Blaze Pizza sign. FYI, James is an investor, franchisee and paid endorser of the pizza company. Smith continued to joke … “Look at this sh*t. Look at this n****. He everywhere. He just keep following me!”

James said the only reasons he signed in July were his family and the Lakers. Those who work with him support that assertion: Even in Cleveland, James had a sort of gravity that drew business executives and entertainment big shots to him rather than the other way around. Coming to Hollywood doesn’t change that at all, said Jamal Henderson, president of SpringHill Entertainment, but it has shed light on the work James’ companies have already done. “It would’ve been nice if it had just taken a few months,” Henderson said, laughing. “We’ve been out here (in Burbank) for three years now. I know there’s been a flurry of announcements lately, but it really has no correlation with LeBron signing here. It’s mostly stuff that has already been brewing for a few years.”

While anyone in James’ companies will tell you his No. 1 job is to play basketball, he also has an indelible imprint on his projects by managing his time and interactions efficiently. He draws people in with his charisma, leads people with his vision, and expects them to execute – just as he would on the court. “Honestly, everything is driven by him,” says Michele Roberts, the COO of LRMR Ventures and the executive of the LeBron James Family Foundation. “Every time I talk to him, he’s asking how can we get better than the day before.”

In the entertainment realm, many of the day-to-day tasks are handled by Carter and his staff. James doesn’t necessarily work closely on each project, but he usually has a strong voice early in the process that helps shape the final product. Any amount of time James spends on a project is important, those who have worked with him attest. James’ gravitas as a celebrity helps open doors and later assists with the promotion. “For him to sign his name off on this, it’s monumental,” Williams said of “Best Shot”. “If I do it myself, it’s great, but it doesn’t have the notoriety behind it. I don’t dismiss the amount of time he put together to do this.”

After signing a four-year $153 million deal to play for the Los Angeles Lakers, LeBron James may already be thinking about his streams of revenue after retiring from the NBA. According to Maverick Carter, his business partner, James is looking to own a U.S. professional sports franchise, likely either basketball or football. “He does like football and he’s looked at football ownership, so he’ll be owning a basketball team and running it,” Carter told Variety’s Audrey Cleo.
More HoopsHype Rumors
August 11, 2022 | 7:20 pm EDT Update
Appearing on The Scoop podcast with Darren Wolfson of SKOR North and 5 Eyewitness News, Glen Taylor said new Wolves president of basketball operations Tim Connelly had his eye on multiple impact trade targets, but Gobert was his “number one option.” The input of head coach Chris Finch, who expressed confidence in his ability to use Gobert and Karl-Anthony Towns, was also a key factor in Minnesota’s decision to pull the trigger on the blockbuster deal. “What I did when Tim and Chris talked to me about this trade is to ask (Finch) is there a system that he knows how to utilize these players,” Taylor said. “And he was very confident that he did understand how to utilize their skill sets, being two big guys. We talked about a lot, so he convinced me that this is something that is going to take us to a winning situation, and gave us the go-ahead to make the trade.”
Asked if he’d like to see D’Angelo Russell sign an extension before the season begins, Taylor said it might benefit both sides to hold off and see how the 2022/23 season goes. “(Finch) believes that with the new lineup, and with Russell in that lineup, that he’ll have a much better year just because of the way we’re going to play,” Taylor said. “He says he thinks there’s a big upside for Russell with this group of (players). That’s to his advantage and to our advantage if it works out.”
The plan remains for Taylor to hand over control of the franchise to incoming owners Marc Lore and Alex Rodriguez in a little over a year. The Wolves’ longtime owner said he’s not having any regrets about giving up control of the team as it becomes a more legitimate contender. “No, I don’t have any second thoughts. I think it’s the right thing to do,” Taylor said. “We’ve left some options open that I’ll continue to be involved if I want to be involved, and that suits me just fine.”
August 11, 2022 | 5:46 pm EDT Update

Cavs to hold voluntary workouts without Collin Sexton

The Cleveland Cavaliers will be gathering in Los Angeles for voluntary, player-led pre-training camp workouts next week, sources tell All-Star point guard Darius Garland and Rookie of the Year runner-up Evan Mobley — two guys who spend time on the West Coast during the offseason — are helping organize the workouts.