Magic Johnson became renowned for creating an awe-inspiring business empire following his legendary career with the Los Angeles Lakers. LeBron James is constructing his kingdom while he’s still playing in the NBA.
King James, 36, added to his impressive portfolio by becoming a minority owner of Major League Baseball’s Boston Red Sox. The Red Sox is a storied and marquee franchise that, along with the New York Yankees, forms one of the most intense rivalries in all of sports.
Ironically, James is a lifelong Yankees fan. Needless to say, James probably had to privately renounce his devotion to the Red Sox’s arch-enemies before acquiring part-ownership. The majority owner of the team is John Henry, a billionaire who also owns the Boston Globe newspaper. The Sox are valuated as the third most valuable franchise in MLB behind the Yankees and Dodgers.
According to the Globe, James obtained an 11 percent stake in the Fenway Sports Group, which is the parent company of the BoSox.
James was never known to be an avid baseball fan. He was an all-state wide receiver in football during his Ohio high school days, in addition to being an All-American in basketball. So this move seems to have taken his fans by surprise.
Then again, Johnson rarely talked baseball publicly, either, but he now is part owner of the Los Angeles Dodgers.