LeBron James is looking to make some big boss moves for his entertainment firm through new deals and a piece of the company potentially up for sale.
According to a report from Variety, sources tell the outlet that SpringHill Co. — led by both James and his longtime business partner Maverick Carter — is entertaining early discussions with a range of potential investors across industries to sell a part of the media and entertainment firm that would value it up to $750 million.
Potential deals on the table for James’ company include Nike as well as streaming-video providers and tech companies, according to a close source. Rather than selling the company itself outright, SpringHill Co. is leaning toward selling minority or majority equity stakes.
The Information originally reported on the company’s sale, however, the publication shares that the source familiar with the firm’s discussions are more likely to lead to a future investment rather than a full-blown purchase.
As previously reported by AfroTech last year, SpringHill Co. raised $100 million to help the company build up the next media empire committed to employing Black creators and prioritizing Black consumers.
With James’ many years playing in the NBA, it created a foundation for his numerous business ventures, including SpringHill Co. which he describes as a company that’s giving back creative control to Black and people of color.
“I’ve always wanted to use the platform of basketball to empower those around me. Now I’m incredibly excited about the opportunity to build a company that empowers creators, consumers, and everything it touches,” James previously told The Hollywood Reporter. “The SpringHill Company defines empowerment. You see it in the team we’ve built, the stories we tell, and the community our work will serve.”
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In addition to new discussions around his entertainment firm, James is also making moves with the Fortnite metaverse in preparation for his role in the “Space Jam” sequel set to release this Friday (July 16).
According to The Verge, Fortnite players will have the chance to purchase two different character “skins” of James — including a regular version of the NBA star with multiple outfits and another modeled after his upcoming movie role.
Additionally, James’ likeness is also finding a place in the NFT space with a collection of collectors’ items featuring characters from “Space Jam: A New Legacy.”