LeBron James Becomes Owner of Pro Sports Team

By Brian Jones

LeBron James continues to build his brand with the purchase of a professional sports team. Major League Pickleball recently announced that a new ownership group is joining the league, and the group is made up of LRMR Ventures the family office of James and his business partner Maverick Carter. The ownership group also includes NBA stars Draymond Green and Kevin Love, The SpringHill Company CMO Paul Rivera, SC Holdings and Relevent Sports Group co-owner and CEO Daniel Sillman.

"Having SC Holdings, LRMR Ventures, and their incredible group as owners and investors in Major League Pickleball is not just great for MLP, it's a watershed moment for pickleball in general," MLP Founder Steve Kuhn said in a statement. "Pickleball is the fastest-growing sport in the country, building communities in cities and towns all over the world. This investment and the platform that this group provides will significantly help us with our goal to reach 40 million pickleball players by 2030."  

There is no word on which team the group purchased. However, MLP is expected to grow from 12 to 16 teams for the 2023 season, according to Yahoo. From Oct. 14-16 this year, 48 pickleball players will be in Columbus, Ohio for the 2022 season finale. They will compete for the latest-single event prize purse ($319,000) in the history of the sport with the winning team taking home $100,000. 

"Pickleball is one of the most exciting growth opportunities in sports because of its committed and engaged community across the U.S.," said Jason Stein, Managing Partner of SC Holdings. "People are obsessed with the game, as both participants and fans, and we're excited to use our collective experience and expertise across sports, media, and entertainment to reach new participants and expand the community. We're thrilled to become partners of Major League Pickleball – which as a league and sport is just getting started."  

James is no stranger to being an owner of a sports team. Last year, the four-time NBA champion and Carter became partners in Fenway Sports Group, which owns the Boston Red Sox, Liverpool FC of the English Premier League, and Roush Fenway Racing, among other properties. James also has stakes in Tonal, which is a smart gym company, and the ride-sharing service Lyft. 

0comments
Start the Conversation

of