LeBron James joins Fenway Sports Group to become part-owner of MLB's Boston Red Sox

As far as the NBA is concerned, LeBron James is having a mammoth season for the LA Lakers. The defending champions are currently 3rd in the Western Conference with a 26-13 record, with LeBron James emerging as a favorite for the 2021 NBA MVP award.

However, the global icon is now being reported to be on his way to becoming a part-owner of a historic Major League Baseball team - the Boston Red Sox.

LeBron James, who back in 2011 invested in the legendary English football club Liverpool FC, is set to make the Boston Red Sox the second major franchise that he part-owns.

He has purchased a set of shares worth an “undisclosed amount” in the Fenway Sports Group, who own the Boston Red Sox.

LeBron is set to become part owner of the Red Sox pending MLB approval, per @MikeSilvermanBBHe and Mav Carter joined Fenway Sports Group as partners, making them the first Black partners in FSG history 🙏 pic.twitter.com/kCt7NRTLMD

— Bleacher Report (@BleacherReport) March 16, 2021

Lebron James set to become part-owner of the Boston Red Sox

The nature of LeBron’s newest investment is vastly different from the one he made in Liverpool FC. Details of the overall deal have not yet been released, with LeBron James reported to have bought a number of shares in Fenway Sports Group. This will give him part-ownership of the Boston Red Sox.

Instead of cash, LeBron James accepted a 2% stake in Liverpool FC as part of a 2011 business deal with Fenway Sports Group.Originally valued at $6.5M, the investment is now worth ~$44M - almost 7x more.Lebron is one of the greatest athlete investors of our generation. pic.twitter.com/32CahosAUc

— Joe Pompliano (@JoePompliano) August 16, 2020

Back in 2011, LeBron James paid a sum of $6.5 million for a 2% stake in the Liverpool Football club, with his investment now valued at around $45 million. Instead of a direct purchase like his Liverpool FC stake, LeBron James has opted to buy part of the investment group that owns the Boston Red Sox.

The Boston Red Sox will be the second sports franchise after Liverpool FC that LeBron James has a part-ownershup in.

The basketball legend has joined the Fenway Sports Group along with American businessman and media personality Mev Carter as a partner. While it is still to be seen what sort of influence LeBron James will have on the franchise, further details about the move are expected to emerge in the coming days.