“I promised I would never forget where I came from,” repeated Los Angeles Lakers star LeBron James, who named his company after his childhood neighborhood, Spring Hill in Akron (Ohio, US). The week was priced at $725 million (€625 million) when Nike, Epic Games and Liverpool owners entered as investors.
The multi-million dollar valuation was known this Thursday, when SpringHill announced the sale of a minority stake in the company to a group of investors including sports brand Nike, video game company Epic Games (responsible for the popular game ‘Fortnite’), or Fenway Sports Group, which owns Liverpool and Boston Red Sox.
LeBron James and partner Maverick Carter will continue to lead this company as president and CEO, respectively, to continue making audiovisual products and to enter new sectors thanks to this economic injection, such as the fashion sector or video games.
SpringHill has positioned itself in front of the general public, especially as a producer of audiovisual content, such as the remake of Warner’s animated Space Jam, starring LeBron James in the role that matched Michael Jordan in the ’90s.
He has also produced documentaries like Muhammad Ali for HBO, contests like The Wall for NBC or talk shows like The Shop, set in a barbershop for HBO. His most recent release was a three-part documentary series about Japanese tennis player Naomi Osaka.
The Lakers star’s multi-million dollar business is home to a marketing agency called “The Robot Company” that works with multiple brands and a media platform for athletes called “Uninterrrupt”.
Using these components, the NBA player has built a company that is already worth hundreds of millions and plans to expand into sectors such as fashion and video games. LeBron James neighborhood gives its name to a multi-million dollar empire.
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