Right now, LeBron James is the biggest name for the Los Angeles Lakers, but in just a few years he could be co-owner of their biggest rival.
According to Frank Michael Smith, Fenway Sports Group is “considering buying a majority stake” in the Boston Celtics.
Since James owns a 1 percent stake in the company, he would become part owner of the Celtics.
This might be a big shock to Lakers fans, but it’s a smart business move by Fenway Sports.
Fenway Sports Group is considering buying a majority stake in the Celtics
Lebron currently owns a 1% stake in the company and upon retirement could become a part owner
Here is a look at Lebron's relationship with one of the largest sports-holding groups in the world
pic.twitter.com/eSu0XLEt9B
— Frank Michael Smith (@frankmikesmith) August 16, 2024
A few months ago, Celtics ownership said they were planning to sell the team.
If Fenway were to purchase the franchise, they wouldn’t take over control until 2028, which is most certainly after James has retired as a player.
The Celtics have long been the biggest rivals of the Lakers, so some Los Angeles fans likely would feel uneasy about James making a deal with them.
But from a financial standpoint, this purchase would be a no-brainer.
Since 2001, Fenway has added three professional sports teams to their portfolio: the Boston Red Sox, Liverpool FC and the Pittsburgh Penguins.
Since those purchases, the value of each team has shot through the roof.
The Red Sox have gone from being worth $380 million to $4.5 billion, while Liverpool has skyrocketed from $300 million to $5.4 billion, and the Penguins are now worth $990 million after being worth $900 million just a few years ago.
Meanwhile, the defending champion Celtics are the biggest team in the NBA right now, which means they have a massive amount of value already, and that’s only set to grow.
Fenway Sports Group won’t be the only organization attempting to land the 18-time champions, so James and his business associates will have competition.
Whoever gets their hands on the Celtics will receive a historic franchise and a financial windfall.
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