LeBron James is the only self-made billionaire competing at the Paris Olympics. With his playing time winding down sooner than later, he wants to transition from playing to owning a franchise. The current valuations of NBA franchises suggest it will take him much more than he already has to purchase one outright. But there is a way out for the all-time leading scorer. With the likes of the Boston Celtics up for sale, James’ name has been tagged as a potential owner.
The New York Post revealed that the Fenway Sports Group and Redbird Capital, owners of the Boston Red Sox, are seriously looking to bid for the NBA Champion franchise. Therefore, as a partner in the group, LeBron James could find his way as one of the owners. However, that is not possible now because his playing career is not over, and that itself will prohibit him from running a rival franchise. That said, the Celtics are not selling outright immediately.
In fact, only 51% of the franchise will be available for sale. The remaining 49% will be up for sale in 2028. By then, James would have shed the purple and gold of the Los Angeles Lakers. As such, it makes him eligible to own a franchise. That said, James and Fenway will have competition.
Fenway Sports Group is “seriously” considering a bid for the Boston Celtics, according to the @nypost.
This is interesting because…
1. FSG already owns the Boston Red Sox (+ Liverpool FC, the NHL’s Pittsburgh Penguins, etc.).
2. FSG has circled the wagons on previous NBA… pic.twitter.com/Du22WFdIy9
— Joe Pompliano (@JoePompliano) August 9, 2024
Longtime minority owner Stephen Pagliuca has stated his interest in acquiring the team completely. That would make the most logical sense. Nevertheless, Fenway Sports Group has the funds to compete with anyone. That said, the Celtics are not their priority. They want to own an NBA franchise, but their mind is set on another one.
LeBron James and the Boston Celtics are an odd combination
The Boston Celtics are perennial rivals of the Los Angeles Lakers. Therefore, just in the interest of ownership, James might not be interested in owning the franchise. With his family settled in Los Angeles, it will be against everything he has carefully built for so long. Therefore, he might convince the Fenway Sports Group to focus on their original plan.
That is the future expansion team in Las Vegas. The Group and the NBA have been in discussion for quite some time. Moreover, Las Vegas gives them a benefit that the Boston Celtics cannot provide. For starters, the Celtics do not own TD Garden, which restricts revenue from hosting other events. That means the new owners will take on a team that is losing money.
It turns out Las Vegas is a lucrative proposition. Not only will the new franchise have its own arena, but it will also be able to tap into Vegas’ market. The financial rewards will be considerably higher than in Boston. More importantly, LeBron James can start his ownership tenure with a clean sheet.
In case you missed:
