LeBron James Becomes Part-Owner Of NHL's Pittsburgh Penguins In $900M FSG Deal
Photo Credit: Daniel Boczarski

LeBron James Becomes Part-Owner Of NHL's Pittsburgh Penguins In $900M FSG Deal

LeBron James’ partnership with Fenway Sports Group (FSG) continues to work in his favor.

Earlier in 2021, AfroTech shared that James and his longtime business partner Maverick Carter became partners of FSG — the owner of Red Sox, Liverpool Football Club of the English Premier League, Roush Fenway Racing and more — and secured an ownership stake in its subsidiaries.

On Nov. 29, the National Basketball Association (NBA) legend added the Pittsburgh Penguins to his ownership portfolio after FSG and its partners made the purchase of $900 million for the National Hockey League (NHL) team, Essentially Sports reports.

Currently, FSG is waiting for approval from the Board of Governors of the NHL. They are predicted to seal the deal by the end of 2021.

Lebron James' Ownership Portfolio

FSG’s purchase of its latest major sports franchise rings the ongoing bell of James’ price going up while off the court. According to ESPN, Sportico valued the Penguins at $845 million last month.

The deal is also another step in the right direction of the Los Angeles Lakers star wanting to own an NBA team.

LeBron James' Empire

The business mogul is not only carving his way to building his empire, but he also continues to make history left and right with his groundbreaking investments. Him and Carter investing in FSG marked the two as its first Black partners.

“I think for me and for my partner, Maverick, to be the first two Black men to be a part of that ownership group in the history of that franchise, I think it’s pretty damn cool,” James said in March. “It gives me and people that look like me hope and inspiration that they can be in a position like that as well, that it can be done. It gives my kids at my I Promise School more and more inspiration as well.”