LeBron James’ entertainment firm, the SpringHill Co., is now worth a whopping $725 million after RedBird Capital Partners, Fenway Sports Group, Nike, and Epic acquired a significant minority stake.
“SpringHill’s mission is empowering greatness in every individual,” Maverick Carter, SpringHill’s CEO, said in a statement. “We started this company with the tagline ‘More Than an Athlete’ which still defines everything we do to this very day. We are an incredible team of athletes, artists, writers, designers, musicians, and countless other creators.”
The SpringHill Company unites three companies built by James and Carter: media platform, UNINTERRUPTED, SpringHill Entertainment, and The Robot Company, the brand and culture consultancy.
SpringHill has already released popular content, including “Space Jam: A New Legacy,” NBC’s primetime game show “The Wall,” the Netflix series “Self Made: Inspired by the Life of Madam C.J. Walker,” and the docuseries “I Promise.”
Other large companies are also keeping a keen eye on SpringHill’s meteoric rise to success. It could be something to do with the company’s widely inclusive approach. According to Fast Company, SpringHill’s staff is 66% people of color and 41% female, including its CFO, general counsel, and other key directors.
James’s knack for good business goes back to his teens.
“I was a 17-year-old kid, still living in the hood, as we call it, and was offered a $10 million check from Reebok on the spot if I never talked to Nike or Adidas at the time,” he said on “The Shop.”
“For someone who was in the position that I was in, I have no idea why I did not accept that $10 million check. But I’ve always been someone who wants to play the long game.”
He soon inked a seven-year, $90 million contract with Nike. Years later, James would go on to sign a lifetime deal with the brand valued at a cool $1 billion.
Originally posted 2021-10-14 13:30:00.
