Aside from what he does on the court as an NBA, LeBron James is generally known for being an astute businessman who makes savvy investments. It seems as though he has made yet another business decision that is intriguing to say the least.
It was recently reported by Damon Carr of Sports Illustrated that LeBron James, along with other prominent figures such as artist Drake and tennis player Naomi Osaka have invested in a new technology firm named StatusPro, which creates "training and fan engagement products". The firm could potentially be worth £42 billion in the future, or approximately $56.4 billion.
Los Angeles Lakers and NBA legend LeBron James has invested in a new technology firm that could be worth £42b in six years alongside FSG partners, US rapper Drake and tennis star Naomi Osaka.
LeBron James and his business partners Maverick Carter and Paul Watcher, who all hold stakes in Fenway Sports Group, have joined other noticeable names in putting their belief in the new technology firm.
StatusPro is a sports tech and gaming firm that uses player data with extended reality (XR) in order to create training and fan engagement products.
Other investors include Verizon, KB Partners, Greycroft and significant Leeds United stakeholders.
The technology firm currently work in the American football industry with NFL giants Baltimore Ravens, NFL Players Association and NCAA collegiate teams. They are looking to spread into other sports which will include football.
LeBron James previously became a part-owner of the Red Sox after partnering with Fenway Sports Group, and this move could be another astute decision for him based on what's being said about the company.
LeBron James does a lot of things well, and business is one of them. StatusPro looks very promising, and it's clear that they are already working with some big names associated with the NFL. Hopefully, we see this pay off handsomely for James in the future.