While the Milwaukee Bucks and Phoenix Suns went head-to-head in Game 6 of the NBA Finals on Tuesday night, San Antonio Spurs guard Derrick White was more invested in another sporting event: the San Antonio Missions game against the Springfield Cardinals. White was on-site at Wolff Stadium Tuesday to throw out the first pitch at the game.
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.
Paul, who represents James via Klutch Sports Group, is also involved with Major League Baseball after adding a baseball division to his agency last April. He labeled 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 on Tuesday. “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.”
Paul said James would 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 said, adding that James’ ownership focus would be start with the NBA. “I can’t wait for him to be on the other side as an owner.”
The other development introduced another new FSG partner who needs no introduction: LeBron James. James, one of the most recognizable, influential, and richest athletes on the global stage, now owns an undisclosed amount of Fenway Sports Group shares after previously holding an approximately 2 percent share of the Liverpool soccer franchise since 2011 [making LeBron a part-owner of the Red Sox].