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It looks like superstar athlete LeBron James is setting himself up to reach billionaire status much sooner than later.
It was recently announced that James is on his way to become part-owner of the Boston Red Sox through an investment in Fenway Sports Group, an American sports company founded by billionaire John W. Henry, which owns the MLB team as well as soccer team, Liverpool F.C.
LeBron and a private equity firm, Redbird Capital Partners, were allowed to purchase a combined total of 12% stake in Fenway Sports Group.
Redbird Capital Partners were given permission to purchase eleven-percent, while one-percent was sold to James.
James’ investment will be shifted toward restructuring efforts of the Boston Red Sox.