LeBron James officially joins Boston Red Sox, Fenway Sports Group as part owner; FSG is valued at $7.35 billion

Los Angeles Lakers superstar LeBron James officially has joined Fenway Sports Group, making him a part-owner of the Boston Red Sox.

Fenway Sports Group announced an investment into the company by RedBird Capital Partners. It puts Fenway Sports Group’s value at $7.35 billion. The Boston Globe’s Michael Silverman reported that it is a $750 million investment.

Red Sox president Sam Kennedy also became a Fenway Sports Group partner.

“As part of the overall transaction, LeBron James, Maverick Carter and their longtime business partner Paul Wachter will exchange a previously held interest in Liverpool Football Club and become part of FSG’s ownership group along with RedBird.” per the release.

“Working with Fenway Sports Group for the past decade has taught LeBron and me so much about the business on a global scale, and we’ve always believed it would lead to something bigger,” Carter said in the release. “We are proud to be part of this iconic ownership group and are excited about the opportunities that come with that to continue creating change and empowering people of every race, gender and background to be part of the process.”

Red Sox president Sam Kennedy was asked on MassLive.com’s The Fenway Rundown about James and Carter joining as part owners before the deal became official.

“We do have a partnership with LeBron and Maverick through Fenway Sports Management, have become business partners with them and built a friendship and a relationship over the past decade or so,” Kennedy said. “So if something were to come together, I would see them being very active and involved at the Fenway Sports Group level and helping us achieve our ambitions as a sports entertainment, media, real estate business that has global aspirations. We’ve got the Red Sox. We’ve got Liverpool. We’ve got real estate. New England Sports Network. Roush Fenway Racing. So I think you see us potentially expanding into other sports. And Maverick and LeBron are incredible business people. They have built great businesses. Obviously LeBron’s still playing and I think he has a long playing career in front of him.”