LeBron James' Shares In Liverpool Increase, Can The Reds Recover From Financial Pressure?

LeBron James (Photo: Antara)

JAKARTA - NBA superstar LeBron James increased his stake in English Premier League club Liverpool through a deal that was confirmed on Wednesday, making him a partner at Fenway Sports Group (FSG).

FSG announced that James and his longtime business partners Maverick Carter and Paul Wachter became partners in a global sports, entertainment and real estate platform based in Boston, along with RedBird Capital.

James, 36, previously owned a 2 percent stake in Liverpool. With the new deal, James now has a bigger stake in the Premier League team as well as a stake in the Boston Red Sox of Major League Baseball (MLB), a sports management company, regional sports cable network and Roush Fenway Racing for the popular NASCAR auto racing series. .

FSG took control of Liverpool in 2010. The investment value and accompanying transactions totaled US $ 7.35 billion and the Boston Globe reports that the deal is part of an investment worth 750 million (639 million euros).

With this new investment, it is hoped that Liverpool will quickly recover from the financial stress caused by the COVID-19 pandemic and help Anfield's expansion plans continue.

The club is proposing an expansion of the new Anfield Stadium area which will increase the attendance capacity to around 61,000.

In a joint statement, FSG lead owner John W. Henry, chairman Tom Werner and president Mike Gordon said they were "delighted to welcome the LeBron, Maverick and Paul ownership groups, with whom we have enjoyed successful collaborations for more than a decade."

"The increase in their investment is an important milestone for FSG and broadens and deepens the old friendships and relationships that started in 2010."

"The growth of FSG as an organization allows us to further strengthen our resources and commitment to the communities we serve, and we hope that these new partners join us at the next stage of the evolution of FSG."