James joins friend and longtime business associate Maverick Carter as FSG’s newest partners, making them part owners of the Red Sox, the Boston Globe first reported.
The four-time NBA Champ owns an undisclosed amount of shares which gives him partial ownership in the group’s other interests including the English Premier League's Liverpool Football Club, NASCAR team Roush Fenway Racing and sports cable network NESN.
According to ESPN, James previously held a 2% ownership in Liverpool. He and Carter become the first Black partners in FSG’s history.
None of the parties involved have said anything publicly on the deal which remains contingent on Major League Baseball’s approval.
However, it is worth noting that the Boston Globe was purchased by John Henry, who is also the principal owner of The Fenway Sports Group, in 2013. His wife, Lida Pizzuti Henry, is the CEO of Boston Globe Media Partners LLC.
One source told the Globe that the process could take several weeks.