LeBron James' video production organization SpringHill Company reportedly sold a "significant" minority stake to a wide range of investors that raises its valuation to $725 million, per Dade Hayes of Deadline.
The new investors include RedBird Capital Partners, Fenway Sports Group, Nike and Epic Games.
James and business partner Maverick Carter initially founded SpringHill Entertainment in 2007, which developed into the current company in 2020. The group notably produced the 2021 movie Space Jam: A New Legacy as well as HBO's The Shop.
Carter currently serves as the organization's CEO while James is chairman, and the two men will retain controlling interest after the latest deal.
RedBird Capital founder Gerry Cardinale discussed the latest move:
"Maverick and LeBron have created an impressive media content platform led by a creative leadership team that has built a unique mission-driven brand. 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."
The addition of Fenway Sports Group is notable as James joined the partnership in March. It helped the Los Angeles Lakers star become part-owner of the Boston Red Sox and Liverpool Football Club, increasing his previous two percent stake in the Premier League club.
LeBron has also had a contract with Nike since he entered the NBA in 2003, signing a lifetime deal with the apparel company in 2015.
The player's connection to Epic Games began in July when he joined Fortnite's Icon Series.
These relationships have now helped springboard James' media company to a new level.