As our friends at MLB Trade Rumors relayed on Tuesday, Lakers star LeBron James is now a part-owner of baseball’s Boston Red Sox, having become a partner in Fenway Sports Group, the company that controls the franchise. While this represents his first foray into ownership of a major North American sports team, James ultimately wants to own a franchise in his own sport.
“My goal is to own an NBA franchise,” James said on Tuesday, per Mark Medina of USA Today. “It’ll be sooner than later.
“… I have so much to give to the game. I know what it takes to win at this level,” LeBron continued. “I know talent. I also know how to run a business as well.”
As Brian Windhorst of ESPN details, James has put himself in a strong position to make that goal a reality. Forbes recently projected the four-time MVP to surpass $1 billion in career salary and endorsement earnings this year, and that estimate doesn’t take into account the return on his various investments, Windhorst notes. Even that amount of money wouldn’t necessarily give him enough to assume a controlling share of an NBA team, but it likely wouldn’t be hard for him to compile a group.
“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,” an investment banker who has advised on past NBA team sales told Windhorst. “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.”
Here’s more from around the Pacific:
- Sources tell Wes Goldberg of The Bay Area Sports Group that the Warriors are committed to center James Wiseman and would only move him if they could land a “perennial All-Star”-type player. I noted in our Trade Candidate series on Tuesday that Wiseman is among a group of promising young players who could conceivably be dealt, but only for a star.
- Despite Marvin Bagley III‘s hand injury and Nemanja Bjelica‘s recent return to the Kings‘ rotation, Bjelica remains likely to be traded before next Thursday’s deadline, sources tell Jason Anderson of The Sacramento Bee.
- Malika Andrews and Ohm Youngmisuk of ESPN explore why the Clippers prioritized signing Serge Ibaka last offseason, as well as Ibaka’s relationship with star forward Kawhi Leonard.