LeBron James is becoming an NHL franchise owner

Los Angeles Lakers superstar LeBron James is already considered one of the best basketball players to ever play. He’s also not bad when it comes to his business outside the basketball court.

Cara Lombardo and Laine Higgins of the Wall Street Journal report that Fenway Sports Group (FSG), a multi-billion dollar company partnered by LeBron, is now buying the Pittsburgh Penguins franchise:

Boston Red Sox-owned holding company Fenway Sports Group LLC is in the process of negotiating the purchase of the Pittsburgh Penguins hockey team, according to people familiar with the matter.

The deal could be completed later this week if negotiations don’t break down, people said. The terms discussed could not be learned.

FSG currently owns MLB’s Boston Red Sox as well as the English Premier League Liverpool Football Club. Now it looks like LeBron James and his other partners are now sinking their toes into the world of hockey in a big way.

According to CNBC, the Lakers superstar owns about 2 percent of FSG. He is said to have invested $ 6.2 million in the company in 2011. In March 2021, FSG is valued at $ 2.6 billion, meaning LeBron’s 2 percent stake is now estimated at $ 52 million. Quite an investment, right?

Warriors, Steve Kerr, Klay Thompson, James Wiseman

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