Another one of LeBron James' investments is turning into gold, as Liverpool advanced to the UEFA Champions League final for the first time in 11 years. LeBron's investment in Liverpool has gone up five-fold since he first purchased a two percent stake in the Anfield club back in April 2011.
And now, according to reporting from ESPN’s Darren Rovell, that stake has grown tremendously in value, from $6.5 million to approximately $32m.
Fenway Sports Partners is owned by Boston Red Sox owner John Henry and chairman Tom Werner, who bought Liverpool for a bargain £350m in October 2010. The Liverpool owners at the time, Tom Hicks and George Gillett, were looking to get £700m ($954m) for the highly levered club.
“Sources said James received a 2 percent stake in Liverpool in April 2011, when his marketing firm, LRMR, agreed to a joint venture with Fenway Sports Partners. Fenway Sports Partners is owned by Boston Red Sox owner John Henry and chairman Tom Werner, who bought Liverpool for a bargain $477m in October 2010,” Rovell wrote.
The report claims Liverpool could currently be sold for £1.2billion with the Champions League final berth earning the Reds an extra £735m.
Under that measure, James' investment has skyrocketed and the Cleveland Cavaliers star could sell it off five times what he purchased it seven years ago.
The Liverpool venture is just one of a number of investments James, who earns a $31m salary in Cleveland, has made in recent years. The 33-year-old has also been involved with David Beckham's Miami MLS franchise.
Those investments include a tech company in Silicon Valley, a pizza start-up, his shoe deal with Nike, and a partnership with Beats By Dre headphones.
photo by Keith Allison