Los Angeles Lakers star LeBron James became a co-owner of the Boston Red Sox after joining the Fenway Sports Group. Cheryl Casone from FOX Business with more.
LeBron James won another sponsorship contract on Wednesday – the day after joining the Boston Red Sox-owned group and recording his 99th triple-double career in the Los Angeles Lakers’ victory.
James agreed to a multi-year partnership with PepsiCo, which begins as the face of Mtn Dew Rise Energy. The drink aims to “awaken ambition and help people win the day”, says the company.
CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM
“It is important for me to believe in the brands and products where I invest my time. When I first heard about the message behind the drink – the fact that every day is a chance to rise for all of us – it really resonated with me, ”said James in a press release. “The ability to grow and find motivation to do more and be more each morning is powerful. I am excited about the opportunity to bring this to life through this partnership with PepsiCo. “
James’ pivot for PepsiCo comes after being signed with Coca-Cola for nearly two decades. James was the face of the company’s Sprite commercials. Front Office Sports reported for the first time in January that James was ready to sign a deal with PepsiCo.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| PEP | PEPSICO, INC. | 133.65 | -0.36 | -0.27% |
According to ESPN, James was also involved only with Nike and Upper Deck throughout his NBA career.
LEBRON JAMES, FROM LAKERS, JOINS THE RED SOX PROPERTY GROUP: REPORT
“LeBron is arguably the most influential celebrity in the galaxy at the moment. He dominates the court, has a thriving enterprise, puts his family first and is committed to social change and a positive impact on communities, said Adam Harter, senior vice president for media, sports and entertainment at PepsiCo, in a launch news. “He will not only be an incredible brand partner for MTN DEW RISE ENERGY, but we also look forward to the collective impact we can have on the people we serve through education, social justice and community initiatives.”
The move to Pepsi came on the heels of James and his business partner Maverick Carter were taking an equity stake in Fenway Sports Group. The group owns Red Sox, Liverpool’s Premier League and the Roush Fenway Racing NASCAR team.
GET FOX BUSINESS ON THE MOVE BY CLICKING HERE
James already had a 2% stake in Liverpool, which is now estimated at more than $ 43 million.