LeBron James' SpringHill Company Sells 'Significant' Stake to Nike, Epic Games, More

Rob Goldberg@@TheRobGoldbergFeatured Columnist IVOctober 14, 2021

LOS ANGELES, CA - OCTOBER 12: LeBron James #6 of the Los Angeles Lakers smiles during a preseason game against the Golden State Warriors on October 12, 2021 at STAPLES Center in Los Angeles, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2021 NBAE (Photo by Adam Pantozzi/NBAE via Getty Images)
Adam Pantozzi/NBAE via Getty Images

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.