NBA superstar LeBron James acquires share in Liverpool | inside World Soccer


NBA superstar LeBron James acquires share in Liverpool

Thursday, April 7, 2011

NBA superstar LeBron James has secured a minority stake in Liverpool after aligning with the club's US owner John Henry and his parent company Fenway Sports Group.

Who knew LeBron James was a soccer fan? Well, if he wasn't, he is now
Who knew LeBron James was a soccer fan? Well, if he wasn't, he is now

Photo: Reuters

Fenway Sports Group, which also owns baseball's Boston Red Sox, is partnering with James's sports-marketing firm, LRMR Branding & Marketing, to become the representative for the Miami Heat player around the world.

As part of the deal, the two-time NBA MVP received an undisclosed percentage of Liverpool.

"The first time I stepped on an NBA court I became a businessman," James told the Wall Street Journal. "This is a great opportunity for me."

"For me, this is about being in business with an organization that loves sports as much as I do."

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 profitable franchises in sports.

According to Deloitte's 2010 Football Money League report, Liverpool is the world's eighth-biggest soccer team by revenue, with $320 million in revenue during the 2009/10 season.

Both parties declined to provide financial details of the deal but Fenway is expected to earn a small commission on deals it does on James's behalf.

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