LeBron James is not just a superlative sportsperson, he also has a keen eye for a good business investment, it turns out. And Liverpool reaching the final of the Champions League means the “King” James has a lot more to celebrate than a final appearance after years.
In 2011, the basketball star had bought a minority stake in Liverpool. According to a report by ESPN, the 2% stake had cost him roughly $6.5 million. Today, that has grown nearly five times ($6.5 million to $32 million), including the amount of more than $100 million guaranteed to Liverpool for reaching the final to be held in Kiev.
James got the share through his marketing firm, LRMR, as part of an exchange arrangement with Fenway Sports Partners to become his global representatives. The company, which is owned by Boston Red Sox owner John Henry and chairman Tom Werner, had bought Liverpool for $477 million in October 2010.
However, the club is a lot more financially stable today, if not in terms of major trophies.
Back then, getting James on board was a part of a global strategy. In the 2011 report, Chairman Tom Werner was quoted as saying by The Guardian as: “There are very few athletes who can match his global reach, appeal and iconic status ... We feel the business opportunities for both working and being identified together in emerging international markets will result in unforeseen opportunities that neither would have been able to realise alone.”.
On his part, James said he fell in love with Liverpool when he visited them in 2011, after getting his stake.
“To walk through the facility the day before – to see all the history and achievements was very powerful. Liverpool have won 18 league championships and it meant a lot to read about King Kenny and Steven Gerrard – a hometown kid who now captains the team. And then to be at Anfield and see 40,000 fans screaming at the top of their lungs, the whole game was an unbelievable experience for me,’ he was quoted as saying by The Liverpool Echo.
Seven years later, the experience is perhaps the same as Jurgen Klopp’s men have raced through Europe to set up a final clash with two-time defending champions Real Madrid. Whether they add to the collection of trophies or not, James is sure to celebrate the return of investment.