Firm BizFirm Biz
  • Daily Biz
  • The Arena
  • Money Talks
  • Culture
  • About Firm Biz
  • Contact Us
Facebook Twitter Instagram
  • Daily Biz
  • Money Talks
Firm BizFirm Biz
  • The Arena
  • Culture
Firm BizFirm Biz

Joe Pompliano Explains How LeBron James Can Own An NBA Team In Las Vegas

FirmBizAugust 1, 2022 Culture
Share Facebook LinkedIn Twitter Email

LeBron James is one of the smartest basketball players in the league. Time after time, he has proved that with his skills on the court. As for off the court, LeBron is equally smart there as well.

Since he is one of the biggest superstars in the NBA, it is obvious that LeBron earns a lot of money. Apart from his huge salary, he makes a lot of money from endorsements as well. On top of that, James has invested carefully in various businesses over the years.

Combining everything, it’s no surprise that LeBron reached billionaire status before even retiring from the NBA. But what’s next for the King? According to LeBron, he wants to own an NBA team in the future, and that too in Las Vegas.

The NBA has been thinking of an expansion plan for a long time. Over the course of time, it has been hinted that the NBA wants to add two more teams to the league. One in Las Vegas and the other in Seattle.

But can LeBron really buy an NBA team? Of course, he is a billionaire, but owning an NBA team costs way more than that. Huddle Up founder Joseph Pompliano recently explained how LeBron could own an NBA team in a detailed Twitter thread.

1) We all know @KingJames recently reached billionaire status, according to Forbes.

Net Worth Breakdown
• Spring Hill Company: $300m
• Fenway Sports Group: $90m
• Real Estate: $80m
• Blaze Pizza: $30m
• Cash + Investments: $500m

But that’s not enough to buy an NBA team. pic.twitter.com/xT4M2lChmC

— Joe Pompliano (@JoePompliano) July 7, 2022

2) Because while the NBA is eventually going to expand & people expect Las Vegas & Seattle to get a franchise.

The expansion fee will probably be $3 billion-plus by the time that happens & LeBron won’t be able to afford it by himself.

That’s where Fenway Sports Group comes in.

— Joe Pompliano (@JoePompliano) July 7, 2022

3) For those that don’t already know, FSG is a holding company for professional sports assets.

FSG Assets
• Boston Red Sox
• Fenway Park
• Liverpool FC
• Anfield

And LeBron’s relationship with FSG dates all the way back to a business deal in 2011. pic.twitter.com/6w48zlzi6s

— Joe Pompliano (@JoePompliano) July 7, 2022

Pompliano started off with the fact that LeBron James has officially been announced as a billionaire by Forbes. Additionally, he provided fans with the net worth breakdown of the King. Despite that, Joe thinks that by the time the league is ready to move forward with the expansion plan, the fee would be over $3 billion. But James still has another trick up his sleeve.

9) FSG reportedly did its due diligence when the Minnesota Timberwolves went up for sale.

But they eventually passed, and many people believe it’s because they have their sights set on an NBA expansion team in Las Vegas.

And who do I think will run it?

LeBron James.

— Joe Pompliano (@JoePompliano) July 7, 2022

LeBron’s initial investment in Liverpool FC could have been a risky move. But that move turned out to be brilliant. Since James invested in the club, it has worked as a good luck charm for them. They have been performing consistently and have won several trophies as well.

This resulted in Liverpool FC’s valuation increasing. Later, LeBron transferred his 2% ownership stake in Liverpool FC to the parent company. Thus, he became a co-owner of all professional sports assets owned by FSG.

Of course, Pompliano mentioned that this is still speculation at the moment, he believes the situation is becoming clearer.

Since LeBron James is one of the best players in the league and he has meant so much to the game of basketball, even NBA analyst Stephen A. Smith believes that the league will help LeBron in fulfilling his dream of running an NBA franchise. So at the end of the day, it appears as if everything is confirmed, and it’s only a question of when after he wraps up his playing career.

Join the FirmBiz360 Newsletter

Add A Comment

Share. Facebook LinkedIn Twitter Pinterest Email

ELSEWHERE ON FIRM BIZ:

NFL, RedBird Capital Announce New Venture to Deliver Sunday Ticket to Bars and Restaurants

Uber Eats Is Deleting “Ghost” Restaurants So Customers Don’t Get Scammed

MSE exec, BET co-founder Sheila Johnson to publish memoir

Mobile Sports Betting: Booming in Some States, Others Shy Away

Remote Work Is Declining in U.S., Says Labor Department

Silicon Valley Bank bought, all 17 branches will reopen under new name

Currenty Trending

Brandon Johnson’s Anti-Crime Plan Looks A LOT Like Lori Lightfoot’s

Remote Work Is Declining in U.S., Says Labor Department

Has Mayor Vi Lyles flamed out in Charlotte?

MSE exec, BET co-founder Sheila Johnson to publish memoir

Spotify is revamping its podcaster tools, including Anchor, and is partnering with Patreon

NFL, RedBird Capital Announce New Venture to Deliver Sunday Ticket to Bars and Restaurants

Redesign|Rebuild|Reclaim
Redesign Rebuild Reclaim
Redesign Rebuild Reclaim
Listen OnApple PodcastsListen OniHeart RADIO
Michelle Pascal

Publicist/Event Coordinator Michelle Pascal (@themichellepascal) discusses her unconventional road to Public Relations, coordinating a fashion show outside on a Harlem block, and the keys to keeping clients happy as a Publicist. (Season 2, Episode 1)

Produced and Hosted by Chuck Holliday
Theme Music: “Looking Up” by Versa Jay Beats
Show Page: www.suite929.tv/podcasts/redesignrebuildreclaim/

Michelle Pascal
Episode play icon
Michelle Pascal
Episode Description
Episode play icon
Mo Brown Suga
Episode Description
Episode play icon
Kenya Thomas
Episode Description
Episode play icon
Jennifer Moxley
Episode Description
Episode play icon
Kerry Yanique Croft
Episode Description
Search Results placeholder

   
About Firm Biz  •  Contact Us  •  Privacy Policy  •  Corporate Website
© 2023 Firm Biz, a unit of Suite929 LLC

OUR PUBLISHING NETWORK:
Suite929tv   •   Lifestyle Republic   •   Tech We Like   •   G Style Magazine   •   The 9ine Podcast Network

Type above and press Enter to search. Press Esc to cancel.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT