LeBron James, Drake, Rich Paul among investors backing PGA Tour in $3,000,000,000 deal amid LIV golf talks
LeBron James is among many celebrities throwing some cash into the golf business. LeBron and other celebrities such as Drake and James’ agent Rich Paul are investing in the PGA Tour. The news comes as the PGA Tour is still working out a potential deal with the Saudi-backed LIV golf tour.
James and Drake were part of a new investment group contributing $3 billion into the PGA Tour. James’ business partner Maverick Carter is also investing. Actor and “Guardians of the Galaxy” star Chris Pratt was also named in the investment group.
James’ stake is separate from the recent investment from Fenway Sports Group. James is a minority owner in Fenway Sports group which owns Liverpool FC, the Boston Red Sox, a NASCAR team and more.
How is LeBron James involved in golf?
LeBron James is investing in the PGA Tour. His contribution will make him a “strategic investor.” World famous rapper Drake is also labeled the same after his financial contribution.
Both will be involved in the marketing side as the PGA Tour attempts to grow their brand in the worldwide sports landscape. Neither star has a big golf presence.
James is not one of the NBA players known for spending off time on the links. Players such as Steph Curry or James' former teammate Dwyane Wade are known for enjoying golf. Drake is also known more for his basketball and soccer fandom than his love for golf.
Drake and James have teamed together for sports investments before. They both have minority shares in famed Italian soccer club AC Milan.
The rapper stood by his latesr investment. He voiced his excitement about the future partnership with the top-level golf tour.
“Golf can be so much more than a sport. I remember some of my best childhood memories was being on the golf course with my uncle,” Drake said in a statement. “It’s one thing to invest in a team, but to help reimagine one of the biggest leagues in the world is an incredible opportunity and I’m excited to be a part of it.”
James’ investment grew his sports portfolio. He also co-owns a team in Major League Pickleball. He also allegedly wants to be the majority owner of a potential NBA expansion team in Las Vegas.
James has other entertainment and real estate investments. He co-owns a production company SpringHill Productions. He started the company with a personal $100 million investment. The company has produced many films including the “Space Jam” remake starring LeBron James.
LeBron James also has investments in the restaurant business. He is a lead investor in the pizza chain Blaze Pizza. His initial investment was reportedly less than $1 million. His share is now worth north of $30 million, according to Forbes.