Earlier reports confirmed that Los Angeles Lakers superstar LeBron James, via the multi-billion dollar company Fenway Sports Group, is on the verge of becoming an NHL franchise owner. FSG is reportedly closing in on the purchase of the Pittsburgh Penguins, but it sounds like it won’t stop there.
According to Dan Primack of Axios, FSG will shift its attention to the NBA once it completes the purchase of the Penguins franchise. They will reportedly “seek a target” in 2022, but at the moment, no particular NBA team has been identified.
We all know how the great Michael Jordan is the proud owner of the Charlotte Hornets franchise. We are all also familiar with how the comparisons between MJ and LeBron go far beyond the basketball court. In this respect, it sounds like the Lakers star is following in the footsteps of Jordan in terms of becoming the next player-turned-team-owner.
For a bit of perspective, the NBA recently approved the first increment of Marc Lore and Alex Rodriguez’s $1.5 billion purchase of the Minnesota Timberwolves. Similarly, tech mogul Ryan Smith purchased the Utah Jazz franchise for $1.7 billion in 2020. LeBron and his group will likely need to come up with a similar amount, if not greater, to fulfill their objective here.