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LeBron James has just massively increased his stake in Liverpool FC.
Four-time NBA champion LeBron previously held a 2 per cent shareholder stake in the Premier League giants, but it seems that figure will now increase after he officially became a partner in the Fenway Sports Group (FSG) along with RedBird Capital Partners.
And with LeBron now a part of the official ownership group, RedBird have agreed to provide "significant investment" to FSG which could benefit the Reds massively both on and off the pitch.
While the exact investment increase still remains unknown - although it's rumoured to be around 10 per cent - the new agreement between the two parties will see RedBird pump an estimated US$750million (AU$990million) into the club, according to the Boston Globe.
"Our strategic partnership with (RedBird founder and managing partner) Gerry [Cardinale] and the entire team will enhance our ability to pursue future growth opportunities in a more accelerated way but with the same selectiveness that has served us so well," FSG's principal owner John W Henry said in a statement.
"We are also pleased to welcome to our ownership group LeBron, Maverick [Carter] and Paul [Wachter], with whom we have enjoyed a successful collaboration for well over a decade. Their addition is an important milestone for FSG and expands and deepens a long-time friendship and relationship that began in 2010.
"To our fans and supporters: Winning continues to be the driving force for all of us. The growth of FSG as an organisation allows us to further strengthen our resources and commitment to the communities we serve, and we look forward to having these talented new partners join us in the next chapter of FSG's evolution."
According to Sky Sports, the reigning Premier League champions suffered an estimated £120million (AU$218million) loss in revenues as a result of the coronavirus pandemic.
So the increased investment has come at the perfect time for Liverpool and will ultimately ease the financial burden on FSG going forward.
Featured Image Credit: PA
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