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Report: Lakers' LeBron James in Talks to Sell Equity Valuing SpringHill Co. at $750M
July 14, 2021
LeBron James' SpringHill Co. is reportedly in talks with companies to sell a stake that would give the production company a $750 million valuation.
Todd Spangler of Variety reported the company has talked to "a range of investors" about buying a stake. Nike, streaming service providers and tech companies are among the potential bidders.
SpringHill Co. is not looking for a full sale but rather minority or majority investors. James and Maverick Carter co-founded the company in 2015.
SpringHill has been the production company for James' media projects in recent years, including HBO's The Shop and the upcoming Space Jam: A New Legacy film. The company also produced a well-received HBO documentary on Muhammad Ali released in 2019.
SpringHill raised $100 million in funding last year. The company is also set to launch two movies, HBO Max's House Party and Netflix's Hustle, in upcoming years. It would seem likely HBO Max and Netflix are among the potential bidders for a stake in SpringHill.
James has been a Nike athlete his entire NBA career and signed a $1 billion lifetime contract with the apparel company in 2015.
