LeBron James’ move to join the Fenway Sports Group (FSG) may be set to pay off in the long term.

Stackwell Capital is working steadfastly to ensure Black Millennials and Generation Z Americans have the tools to create generational wealth. As AfroTech previously told you, the novel application founded by Trevor Rozier-Byrd, will introduce users to educational resources and automated model portfolios. The platform is engineered to empower the community and eradicate misconceptions or fears surrounding wealth building. Rozier-Byrd last told AfroTech that Stackwell Capital was working to adopt new measures that would incorporate financial literacy into Black communities. Stackwell Capital has stayed true to its word. The company has closed a $3.5 million funding round led by Michael Gordon, President of Fenway Sports Group; Jeremy Sclar, CEO and Chairman of WS Development; and The Kraft Group. CMFG Ventures Discovery Fund, Shea Ventures, SSC Venture Partners, Shorehaven Wealth Partners, and Theo Epstein, a consultant to Major League Baseball, also participated in the round, among...

Maverick Carter has a new mission on his hands with the Red Sox Foundation. In 2021, Carter became a part-owner of the baseball team alongside his business partner LeBron James. Fast forward to less than a year later, and Carter has been appointed to the Foundation’s Board of Directors, according to a press release.

Kevin Durant is evidently enjoying his time in the business limelight. As AfroTech previously reported, the Brooklyn Nets basketball star recently secured a two-year partnership with blockchain platform Dapper Labs’ NBA Top Shot. Now, Durant is making headlines as he’s reportedly set to become one of the major buyers in a merger agreement between ticket search engine platform SeatGeek and blank check company RedBall Acquisition Corporation, according to Front Office Sports. The merger proves to be a relief for RedBall — co-founded by Billy Beane and RedBird Capital founder Gerry Cardinale — who reportedly struggled over the past year, EssentiallySports previously reported. But clearly, hope was not lost as RedBall now has a promising footing with the latest merger reportedly valued at a whopping $1.35 billion (What a comeback). The equity rollout will include a $100 million private investment in public equity (PIPE). The beauty of PIPE financing permits prospects to be afforded the...

LeBron James is taking his talents to baseball! The NBA superstar and his longtime business partner Maverick Carter are gearing up to become part-owners of the Boston Red Sox, reports USA TODAY Sports. Carter and James are now partners in Fenway Sports Group which owns the Red Sox, Liverpool FC of the English Premier League, Roush Fenway Racing, regional sports network NESN, Fenway Sports Management, and FSG Real Estate. They are  FSG’s first Black partners and currently, the Red Sox portion of the deal must be approved by Major League Baseball officials. Coming off of the heels of his fourth NBA championship and fourth Finals MVP run with the Los Angeles Lakers last year, James continues to build his business and media portfolio. His lifetime deal with Nike could exceed $1 billion, his SpringHill Entertainment develops and produces other entertainment, and he’s preparing for the summer release of his new film, “Space Jam: A New Legacy,”