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Creative money moves are coming from MVP Joel Embiid as he announces the launch of Miniature Géant, a media company in partnership with SpringHill Company. The new partnership with SpringHill Company — co-founded by LeBron James and Maverick Carter — marks the expansion of the creative firm’s footprint.
Naomi Osaka has made herself known as not only a professional athlete but a boss with numerous business ventures. Within her creative bubble, the mom-to-be has tapped into media. As previously reported by AfroTech, Osaka launched her media company Hana Kuma in partnership with LeBron James and Maverick Carter’s SpringHill Company in June 2022.
They don’t call LeBron James the GOAT for no reason. On top of breaking records such as becoming the NBA’s all-time leading scorer, the basketball star has built a business empire on and off the court. As previously reported by AfroTech, James’ numerous investments — which account for over $500 million of his wealth — have led him to reach billionaire status.
Naomi Osaka is deep in her entrepreneurial bag as the businesswoman is reminding us once again that she’s all about doing things her way. Shortly after launching her sports agency EVOLVE, the tennis star announced her own media company — Hana Kuma — according to a press release shared with AfroTech.
Fanatics, Michael Rubin’s online sports company, has brought together a star-studded group of investors to transport Mitchell & Ness into the present day. On Feb. 18, it was announced that the legendary sports goods brand had been acquired for $250 million, Sportico reports. The recent deal included investments from Jay-Z, Maverick Carter, Meek Mill, Lil Baby , and the D’Amelio family. The breakdown of the ownership is Fanatics takes 75 percent of Mitchell & Ness, while the other investors get 25 percent, according to The New York Times. Mitchell & Ness has previously been a staple in the clothing industry, especially for streetwear fashion. Just as brands such as Diddy’s Sean John are working to make a comeback, the investors are bringing new energy to the brand that’s been missing. “Fashion is cyclical, but classics are forever,” Jay-Z said in a statement. “Mitchell & Ness is a true classic. I was an early adopter of this brand, as well as a part of a departure from athletic wear....
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.
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. With Fenway Sports Group's purchase of the Penguins, LeBron James' portfolio keeps growing 📈 pic.twitter.com/l1YuBBiz2c — The Athletic (@TheAthletic) November 29, 2021 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.
StatusPRO continues to go against the status quo! As previously reported by AfroTech, the sports technology and gaming company combines player data and XR (augmented and virtual reality) to create a suite of training and fan engagement products for enterprise and consumers. Founded by Andrew “Hawk” Hawkins and Troy Jones, StatusPRO is a part of the less than one percent of Black entrepreneurs who receive funding from traditional venture capital firms. Plus, they have announced a list of strategic investors made up of industry leaders that will join KB Partners, TitletownTech, Greycroft, Verizon Ventures, Haslam Sports Group, 49ers Enterprises and SC Holdings. “Besides the immense credibility our new investors bring to the business, they have proven the value of creating companies and brands that prioritize empowerment, diversity of thought, experience, and culture,” said StatusPRO Chief Executive Officer, Troy Jones, in an official press release shared with AfroTech. “These are some...
AfroTech previously reported that LeBron James had a brewing financial venture in the works surrounding entertainment brand SpringHill Company. Now, the speculation is over as the company has revealed it has closed a minority stake sale to a consortium of investors reaching a valuation of $725 million, Variety reports. Investors in James’ SpringHill Company — founded in 2020 by the NBA GOAT and Maverick Carter — include Nike, Fenway Sports Group, Epic Games, and RedBird Capital Partners. “Maverick and LeBron have created an impressive media content platform led by a creative leadership team that has built a unique mission-driven brand,” Gerry Cardinale, founder and executive of RedBird, said in a statement. “Our partnership with SpringHill should enable us collectively to optimize that mission with scalable capital and a business building mentality that will continue to elevate more diverse voices and a drive towards greater empowerment.” With the new investment, SpringHill Company...
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,”
LeBron James is the king of off-court investments. Back in November, the Lakers player invested in Lobos 1707 Tequila, an agave spirits brand founded by former Deleón execs Dia Simms and Diego Osorio, reports The Spirits Business. James and his longtime business partner Maverick Carter co-led the backing as part of the Main Street Advisors’ (MSA) investment group. Additionally, basketball players Anthony Davis and Draymond Green, American sports agent Rich Paul, and investment firm Torch Capital have backed the tequila brand. “I knew the first time I tasted Lobos 1707 Tequila that it was special,” said James. “Lobos 1707 is about celebrating the strength of the group and bringing people together. It’s about shared passion and values. I love sipping Tequila with my friends, and we want a brand that speaks to us.” View this post on Instagram A post shared by Dia Simms (@diasimms) Lobos 1707 is a 100 percent espadín agave roasted in an open Oaxacan fire pit. The brand includes an...
LeBron James and his longtime business partner Maverick Carter have an unapologetic agenda to build the next new media empire for Black creators and consumers. On March 11 — the same day the NBA suspended their season due to COVID-19 — the pair raised funds to start the SpringHill Company. As a combination of three firms, the company reportedly gets $100 million from Elisabeth Murdoch, Stacey Snider and Jane Featherstone’s production banner. It will be a mixed venture that aims to produce content from marginalized voices, Bloomberg reports . The idea behind the platform is to give creative control to people of color who are often denied that power. “When we talk about storytelling, we want to be able to hit home, to hit a lot of homes where they feel like they can be a part of that story,” James told Bloomberg. “And they feel like, Oh, you know what? I can relate to that.” The SpringHill Company will empower a new generation of voices that need to be heard. “This is ultimately a...