LeBron James and the Cleveland Cavaliers may be in the thick of the Eastern Conference Semifinals in the NBA playoffs, but, across the pond, James is stacking up wins and dollars in a sport he’s never played professionally.
On Wednesday, the English Premier League team, Liverpool Football Club, advanced to the Union of European Football Associations Champions League final for the first time in 11 years, defeating AS Roma in Rome by an aggregate score of 7-6. According to a report from ESPN, James received a 2 percent stake in Liverpool F.C. in April 2011.
Sources told ESPN that James received a percentage in the football club when LRMR, his marketing firm, partnered with Fenway Sports Partners (headed up by Boston Red Sox owner John Henry and Chairman Tom Werner) in a joint venture to buy Liverpool F.C. for $477 million in 2010. Then-Liverpool owners Tom Hicks and George Gillett sought $954 million for the club.
James’ 2 percent stake in 2011 was worth $6.5 million, now it has grown to an estimated $32 million as the club has ascended to the eighth most valuable club in the world at $1.49 billion. With Liverpool advancing to the UEFA Champions League final, where they’ll face two-time defending champion Real Madrid, they’re guaranteed an award of more than $100 million.
From refusing to shy away from his remarks about President Trump to making millions of dollars in a sport he’s never played, James is doing everything but shutting up and dribbling — as popularized by James critic and Fox News host Laura Ingraham. He’s breaking the bank and earning tens of millions of dollars more for a small investment he made in his 20s.
You don’t have to agree with James’ political views or even root for him on the basketball court, but you should at least respect his business acumen.
