(MSGS), Apple Inc. (NASDAQ: AAPL) – LeBron James now owns a Pittsburgh Penguins game

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NBA star James lebron played for three NBA teams and earned $ 1 billion in career income, including salary and endorsements. He can now add another title to his resume: owner of the National Hockey League (NHL) team.

What happened: A rumor of agreement between the Pittsburgh penguins of the NHL and Fenway Sports Group was announced this week.

Fenway Sports Group is to acquire controlling interest in the Penguins, subject to NHL approval.

Current Penguin Owners Mario lemieux and Ron burkle will continue to be part of the ownership group. Lemieux, who played for the Penguins, will continue in his role of “guiding hockey operations” for the team, the statement said.

“The Pittsburgh Penguins are a premier National Hockey League franchise with a very strong organization, a great history and a vibrant and passionate fan base. We will work diligently to continue building on the Penguins’ remarkable tradition of championships and exciting games, ”said Fenway Sports Group President. Tom werner noted.

A purchase price was not indicated but The Athletic’s Pierre Le Brun reported the price to $ 900 million. Forbes valued the team to $ 650 million in December 2020, ranking as the 11th most valuable team in the NHL. The bonus paid could be good news for owners of NHL teams like Madison Square Garden Sports Corp (NASDAQ: MSGS), owner of the New York Rangers.

The Penguins were bought by Lemieux and Burkle in 1999 and led the team to three Stanley Cup victories as well as strong television and audience ratings.

Related Link: 5 Best LeBron James Acting Roles Before Space Jam: A New Legacy

About Fenway Sports Group, LeBron James: James joined the team of owners behind Fenway Sports Group earlier this year and now finds himself as part owner of an NHL team (Penguins), MLB team (Boston Red Sox), English Premier League football club (Liverpool) and NASCAR racing team (Fenway’s Roush Course).

In addition to team ownership, Fenway Sports Group owns Fenway Park and Anfield Stadium. The group also owns media company New England Sports Network and sports consulting and marketing company Fenway Sports Management.

James and business partner Maverick Carter joined RedBird Capital in a Fenway Sports Group investment round earlier this year. The deal valued Fenway Sports Group at $ 7.35 billion.

“Working with Fenway Sports Group over the past decade has taught LeBron and I a lot about the business on a global scale and we always thought it would lead to something bigger,” Carter told the era.

James became the first active NBA player to reach $ 1 billion in revenue earlier this year with more than $ 330 million in salary and $ 700 million in grants.

Mentions of James include Flambé pizza, AT&T Inc (NYSE: T) Apple Inc (NASDAQ: AAPL) owned by Beats by Dre, Nike Inc (NYSE: NKE) and PepsiCo, Inc. (NYSE: PEP).

SpringHill Media, a media company owned by James and Carter also saw its valuation rise this year after the publication of “Space Jam: A New Legacy.”

James is a prominent figure in the sports world and his possession of sports teams could increase fan bases and bring new partnership opportunities.

Once James retires, Fenway Sports Group may acquire an NBA team.

Photo: Erik Drost Going through Flickr

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.



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