Show an ad over header. AMP

I am the second

LeBron James and private equity firm to buy into Boston Red Sox

Boston Red Sox majority owner John Henry has agreed to sell a roughly 11% stake in the team's parent company to RedBird Capital Partners, Axios has confirmed with a source close to the situation. Separately, LeBron James has acquired around a 1% stake in the club.

Why it matters: It's a massive return on investment for Henry, who in 2001 paid what was then a record $700 million for the Red Sox. This deal values its parent company, Fenway Sports Group, at around $7.3 billion.

Keep reading... Show less

Related Articles

Insights

mail-copy

Get Goodhumans in your inbox

Most Read

More Stories