LeBron James nabs Liverpool share to expand global reach

LeBron James gets Liverpool share

LeBron James of the NBA's Miami Heat has secured a minority stake in the football team Liverpool. It was done through a deal made between the marketing company of the two-time NBA Most Valuable Player, LRMR, and the Fenway Sports Group.

FSG owns the New England Sports Network and 50 percent of Roush Fenway Racing of NASCAR. LRMR and FSG now look forward to helping each other out in expanding overseas.

A statement about the new agreement did not state any other ownership stake of LeBron James other than Liverpool. The NBA star has Berkshire Hathaway Inc. as one of his advisers.

"LeBron and Liverpool each has a powerful presence internationally, with a particular strength in Asia," said FSG part-owner Tom Werner said in a statement.

"We feel the business opportunities for both working and being identified together in emerging international markets will result in unforeseen opportunities that neither would have been able to realize alone," Werner added.

The deal is one step closer to the goal of LeBron James to become the first billionaire athlete in history. James currently plays for the first year of a six-year contract with the Miami Heat. He took less money in free agency, a still substantial $110 million, for the chance to play with fellow stars Dwyane Wade and Chris Bosh.

LeBron James decided to sign up with the Miami Heat in the offseason instead of re-signing with his hometown Cleveland Cavaliers. He has come back amid loud jeering and boos in regular season games in Cleveland this season. Cavs fans' animosity toward LeBron James will unlikely to disappear anytime soon.

Posted by Andre Monohan on Thursday April 07 2011, 12:55 AM EST. Ref: Bloomberg. All trademarks acknowledged. Filed under Featured News. Comments and Trackbacks closed. Follow responses: RSS 2.0