LeBron James Redefines More Than An Athlete
Photo Courtesy of @forbes
It has been an interesting week in the sports business. Upon the start of year nineteen, LeBron James has been active in boardrooms discussing brand partnership deals. For the eighth straight year, LeBron James is the NBA’s highest-paid player. According to Forbes, James will make a gross total of $111.2 million this upcoming season. The four-time NBA MVP will receive 41.2 million from his salary and an estimated $70 million from off-court ventures. Last summer James became the first active player to earn a billion dollars in salary and endorsements. The King has shown no signs of slowing down, recently announcing his recent partnerships with Tonal and Calm. James recently announced that SpringHill Company received an investment from some of the biggest names in sports.
LeBron’s SpringHill Company Sells Minority Stake to Investor Group Valuing Company at $725 Million
Photo Courtesy: Ike Edeani for Bloomberg Businessweek
LeBron James and CEO Maverick Carter’s SpringHill Company have sold a minority stake to an investment group at a $725 million valuation. Their media company will join some of the biggest brands in sports, RedBird Capital Partners, Nike, Epic Games, and Fenway Sports Group. In the summer of 2020, SpringHill raised $100 million from a group of the esteemed company. That group included UC Investments, SC. holdings, and Guggenheim Partners.
“ I’m just happy that we’re partners with Epic, So we’re going to be apart of the future and as they build the future of the world and build what the metaverse actually looks.”
LeBron James and CEO Maverick Carter will maintain a controlling stake. Under the SpringHill umbrella, their company will expand into the world of gaming, bringing unique content to the metaverse. According to CEO Maverick Carter, the investment will enable the company to expand its business development across IP, consumer products, and production projects.
LeBron James Elevates Personal Brand while joining Tonal and Calm
Photo Courtesy of Tonal
LeBron James has become a global face in professional sports. Throughout his career, James has partnered with some of the world’s biggest brands. The A-list includes Nike, Beats By Dre, PepsiCo, Warner Bros., and many others. Upon the NBA season, James has recently announced his partnership with the forward-thinking home fitness company Tonal. James will serve as an investor and brand partner, joining the elite athletes within the Tonal family. The list of athletes includes Serena Williams, Stephen Curry, Klay Thompson, Tony Gonzalez, Drew Brees, Maria Sharapova, Michelle Wie, Paul George, Sue Bird, and Larry Fitzgerald. James spoke highly about the effectiveness of Tonal and how they shape the future of fitness.
“The efficiency of Tonal is second to none when it comes to strength training. It’s easy in a sense that everything is literally right there. ”
On Monday, James announced that his partnership with the leading mental Wellness brand Calm. Under this partnership, Calm will team up with James to discuss the importance of sleep. Calm will feature a Train Your Mind audio series and Sleep Story featuring LeBron James and RZA from Wu-Tang Clan.