LeBron James’ SpringHill Company is transferring into new territory, backed by a few of the greatest names in sports activities, attire, and gaming.
The media firm acquired a significant funding — led by RedChook Capital Partners and joined by Nike, Fenway Sports Group, and Epic Games — at a $725 million valuation. Existing stakeholder UC Investments upped its stake. James and CEO Maverick Carter will preserve a controlling stake.
SpringHill plans to broaden into new sectors, notably gaming, and into areas exterior of North America. It is eyeing investments in companies, mental property, and content material creators.
- The firm mentioned it will “work with Epic to bring unique content to the metaverse.”
- It is planning to “create original content in and around the sports, teams, and venues associated with FSG.” In March, James and Carter purchased into Fenway Sports Group, which owns the Boston Red Sox, Liverpool, and Roush Fenway Racing.
- SpringHill mentioned it will broaden its partnership with Nike round athlete storytelling.
SpringHill raised $100 million in June 2020 from a gaggle that included Guggenheim Partners, UC Investments, and SC.Holdings. Serena Williams, Elisabeth Murdoch, and executives from Live Nation Entertainment, Apollo Global Management, and the Red Sox joined its board at the moment.
The firm is greatest recognized for “Space Jam: A New Legacy” and its UNINTERRUPTED community, which has produced content material for HBO and Netflix.
Editor’s word: SC.Holdings is an investor in FOS.