LeBron James’ SpringHill Company Is Worth $725 Million in New Deal

In Summary

The investment deal is designed to increase the Los Angeles Lakers superstar’s growth in TV, film and live events.

LeBron James is known for scoring a lot of points on the court. Now, he is scoring huge points off the court as his entertainment firm, SpringHill Company, made a deal with a group led by RedBird Capital Partners to acquire a minority stake in the company, according to the Los Angeles Times

RELATED: YouTube to Produce Documentary of LeBron James’ ‘I Promise’ School

Boston Red Sox owner Fenway Sports Group, Nike and Fortnite creator Epic Games were some of the participants in the deal. This deal values the Los Angeles based-SpringHill at $725 million, according to the Los Angeles Times. 

James, who is the company’s chairman, and Chief Executive Maverick Carter will still have total control. Carter and James have been friends for a long time going back to their days in Akron, Ohio. Also, Carter has been James’ business partner since 2006 and his responsibility is to manage the star’s business deals. 

RELATED: LeBron James, Maverick Carter to become Fenway Sports Group’s first Black owners

He believes this agreement will enhance SpringHill to create more of its content, invest in intellectual property and add production companies. 

“What this money will allow us to do is to finance more projects that we want to make,” Carter said on CNBC Television. “Now, we’ll be able to pick and choose if we want to finance some ourselves. We’ll also be able to ramp up our physical production capability to start physically producing all the things that we want to make and also look at some strategic and thoughtful, smart M&A with companies that align with us culturally.” 

RELATED: LeBron James Expected to Earn More Than $1 Billion in Career Earnings in 2021

SpringHill is well known for its shows like The Shop on HBO and the movie Space Jam: A New Legacy

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