NBA star LeBron James joined Fenway Sports Group, making him part owner of the Boston Red Sox, reported ESPN recently.
James becomes a minority owner in a franchise valued at more than $3 billion, reports CNBC. James’ agent Rich Paul confirmed the ownership stake to CNBC. The Boston Globe notes James and business partner Maverick Carter are the first two Black owners within FSG. The firm itself is valued at mpre than $6 billion, according to Forbes.