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: $500mBut 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
• AnfieldAnd 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.
