Basketball superstar LeBron James sold a stake in his video production company on Thursday SpringHill to Redbird Capital Partners, Fenway Sports Group, Nike and Epic Games for $ 725 million.
James and CEO Maverick Carter will remain the majority owners of SpringHill, which was founded in 2007.
The new investment will allow SpringHill to expand its existing business and explore new categories and global markets with partners.
Epic, creator of the “Fortnite” video game, “will bring unique content to the metaverse,” according to SpringHill.
“With this new group of investors who are the best in their respective industries, we are going to be able to empower our community and every creator to do their most inspiring work and achieve their most ambitious dreams. ” said Maverick Carter, CEO of SpringHill in a report.
A statement from Larry Cardinale, Founder of Redbird Capital read: “Maverick and LeBron have created an impressive multimedia content platform led by a creative leadership team who have built a unique, mission-driven brand. Our partnership with SpringHill should collectively enable us to leverage this mission with capital scalable and a business development mindset that will continue to raise more diverse voices and a movement toward greater empowerment. ”
Some of SpringHill’s projects include HBO’s “Space Jam: A New Legacy” and “The Shop,” where the cast sit down and talk to different athletes from all sports. An upcoming documentary, “Black Ice”, will involve rapper Drake and showcase the lives of black hockey players.
“I played hockey as a kid from Akron, Ohio, from the neighborhood, I didn’t grow up watching hockey, loving hockey, even understanding it, nobody played hockey where I was from, ”Carter said. “But black people in Canada, like the rest of Canadians, love hockey. There is an untold story about black players and like other sports in America and around the world, our contributions to the game.”
Carter also discussed SpringHill’s enormous diversity, as half of the production company‘s employees are women and two-thirds of their employees are people of color.
“This is what we are talking about. And that’s what leads to great creativity because if you have people in the room who are not only diverse in race or gender, but also diverse in the environment, where they’re from, what they are. think, you get a speech. The speech leads to big ideas, ”Carter said.