LeBron James' media company looking to sell stakes: reports
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LeBron James and his agent Maverick Carter are reportedly gearing up to make a ton of cash.
SpringHill Co. is talking to several potential investors about taking a majority or minority stake in the company that would bring its value to $750 million, Variety reported Tuesday. Nike has been mentioned as one of the potential investors, according to The Information.
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Neither company has commented on the reports.
James and Carter raised $100 million for their media company in June 2020, according to Bloomberg. They reportedly described it as a "house of brands" and see it as a Disney-like storytelling company with the "coolness" of Nike and the social impact of Patagonia.
"When we talk about storytelling, we want to be able to hit home, to hit a lot of homes where they feel like they can be a part of that story. And they feel like, Oh, you know what? I can relate to that. It’s very organic to our upbringing," James told the outlet at the time.
LEBRON JAMES, MAVERICK CARTER RAISE $100M FOR NEW MEDIA COMPANY
Carter added: "When you grow up in a place like where we were, no matter how talented you are, if you don’t even know that other things exist, there’s no way for you to ever feel empowered because you’re like, I’m confined to this small world. That’s our duty. A lot of exposure."
James has grown his portfolio over the last 13 months to include himself on the ownership group with the Boston Red Sox and struck an endorsement deal with PepsiCo.
SpringHill Co. has helped produce HBO’s "The Shop" and "Space Jam: A New Legacy." It is also set to release new movies: "House Party" on HBO Max and "Hustle" on Netflix.
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James signed a $1 billion lifetime contract with Nike in 2015.
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