LeBron James may be king of the basketball world, but his reach extends far beyond the borders of an NBA court.
For years, James has established a solid presence in the entertainment industry as well, with his biggest project being "the SpringHill Co.," a firm designed to fuel James' ambitions in film, TV, and video games.
It's the same company responsible for "The Shop" and "Space Jam: A New Legacy," among others.
Recently, however, SpringHill got a huge boost financially after acquiring some new partners, and it has some big implications on what kind of presence James will have on the market moving forward.
The SpringHill Co. on Thursday said it has made a deal for a group led by New York-based RedBird Capital Partners to acquire a significant minority stake in the company, known for shows including “The Shop” on HBO and the recent Warner Bros. film “Space Jam: A New Legacy.”
Participants in the deal include Boston Red Sox owner Fenway Sports Group, apparel brand Nike and “Fortnite” maker Epic Games. The deal values Los Angeles-based SpringHill at $725 million.
James and his childhood friend, Maverick Carter, will maintain their controlling stake in the company, which is on the verge of reaching a major milestone.
The company expects to surpass $100 million in revenue during the next 12 months, according to Carter, up 67% compared with the last 12 months, when SpringHill generated about $60 million in sales.
Last year, Carter and James raised $100 million for SpringHill from investors including Sister, the production company of Elisabeth Murdoch, Stacey Snider and Jane Featherstone, and Guggenheim.
When LeBron originally moved to Los Angeles, many suspected it was in preparation for his life after basketball. And while Bron has proven his focus is still on basketball (for now), it seems he really is wanting to become a major player in Hollywood as well.
Needless to say, LeBron James is building himself an empire that will ensure he stays relevant long after he plays his final game.