After a championship title, a lucrative new TV deal and multiple franchises sold for up to $4 billion, the Celtics' stock is at an all-time high. Now is the time for the C's ownership group to sell their shares.
One group could show interest in buying the legendary franchise: Fenway Sports Group, which has been interested in the NBA for some time. The only problem is that the owners of Liverpool in the Premier League, the Red Sox in the NBL and Pittsburgh Penguins in the NHL have among their partners a certain… LeBron James.
Indeed, the “King” holds at least 2% of the shares of Fenway Sports Group, if not more, because the latter has signed a “lifetime” contract concerning its image (the subsidiary Fenway Sports Management can negotiate marketing and partnership offers from the “King”) in exchange for an additional percentage of the group's shares.
LeBron James, player-owner?
So, can LeBron James be a player for the Los Angeles Lakers (he is still a free agent but will be re-signing in Los Angeles), and owner of the Boston Celtics? Obviously not. The League's rules, the “CBA”, protect the league and the franchises against any conflict of interest of this type, as Sportico reminds us.
LeBron James, who has always expressed his desire to acquire a franchise, will have to wait until the end of his career before realizing his wish. A similar case had already arisen with the Lakers. Magic Johnson had to sell his shares in the franchise when he returned as a player in January 1996.
Magic Johnson then got his 5% stake in the Lakers back when he retired. This will likely be the path LeBron James takes if Fenway Sports Group takes control of the Boston Celtics.
