ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Basketball Legend LeBron James Dreams Of Owning an NBA Team, But Can He?

Despite having all the resources LeBron James will have to take retirement from the game to own a team.
PUBLISHED JUN 26, 2023
Cover Image Source: GettyImages/Matthew Stockman
Cover Image Source: GettyImages/Matthew Stockman

LeBron James, one of the greatest players in NBA history, desires to own a sports team, revealed his longtime financial adviser, Paul Wachter. In an interview at the Cannes Lions Festival of Creativity, Wachter stated that James wants to own a team, and that they are actively exploring opportunities, reported Yahoo!finance. 

Wachter has been advising LeBron James on financial matters for nearly two decades, and their partnership has been highly fruitful. Together, they have made a series of investments that have significantly expanded James's portfolio. It all started with equity stakes in Blaze Pizza and Beats by Dre, both of which garnered considerable attention. James's investment prowess continued with a stake in Fenway Sports Group, the parent company of the Boston Red Sox and Liverpool FC, in 2011.

James co-founded the tequila brand Lobos Tequila and turned down a buyout offer, demonstrating his dedication to the business, the Yahoo Finance report added.

Image Source: GettyImages/Allen Berezovsky
Image Source: GettyImages/Allen Berezovsky

James's investments, coupled with his substantial NBA earnings and endorsements, have propelled him to billionaire status. In June 2022, he officially joined the elite group of billionaires, with Forbes estimating his net worth to be around $1 billion. This remarkable achievement not only solidifies James's financial success but also positions him favorably for future ventures as he approaches the end of his playing career.

LeBron James has shown a genuine interest in business and ownership beyond his basketball career. Alongside his friend and business associate Maverick Carter, James co-founded SpringHill Entertainment, a production company that has produced successful shows such as "The Wall". 

Image Source: GettyImages/Harry How
Image Source: GettyImages/Harry How

While James's aspirations to own an NBA team are well-founded, the financial requirements have recently been raised significantly. NBA legend Michael Jordan recently sold his majority stake in the Charlotte Hornets at a staggering valuation of $3 billion. This sale underscores the increasing value of NBA teams and the substantial financial commitment needed to enter the ownership ranks. However, given James's substantial wealth and his proven ability to make successful investments, it is unlikely that this elevated bar will deter him from pursuing his ownership dreams.

Despite having all the resources LeBron James will have to take retirement from the game to own a team. The Collective Bargaining Agreement in the NBA states that active NBA players aren't allowed to acquire or hold a direct or indirect ownership of an NBA team. This is to avoid issues of favoritism and unfair advantage arising out of players being owners. Interestingly in 2016, LeBron James said that his dream was to actually own an NBA team in near future. "I think so," said James in 2016, responding to a question on the podcast, called 'Open Run', about whether he might want to be a general manager when his playing days are over. James said in the podcast that he would love to be a part of a franchise and his dream was to actually own a team.

Image Source: GettyImages/Harry How
Image Source: GettyImages/Harry How

As LeBron James continues to make his mark on the basketball court, he is simultaneously laying the groundwork for his future beyond the game. His strategic financial investments, diverse business ventures, and billionaire status all position him favorably to become an NBA team owner. James's relentless drive, coupled with his passion for business and ownership, suggests that he will not be content with a passive role after retiring from basketball. With the possibility of expansion franchises on the horizon, it may only be a matter of time before we see LeBron James make his mark as a team owner in the NBA.

MORE ON MARKET REALIST
The guest had no idea about the item being a Tiffany product and being embedded with a rare gem.
18 hours ago
The host was baffled by the goof up that the contestant made between two words.
19 hours ago
Carey showed that he has got the weapon of sarcasm, and he isn't afraid to use it.
20 hours ago
Whatever the host was expecting, it was far away from what the contestant said on national TV.
21 hours ago
The guest was surprised to learn more about the item he had actually found on the street for free.
23 hours ago
After going through everything on the board, the player left Harvey in hysterics with his answer.
1 day ago
As it so turned out, the weird-looking floor lamp was a piece from a very famous studio.
1 day ago
Most contestants were consistently getting the answers wrong, and Harvey was worried about what was next.
2 days ago
Some claimed that they got the puzzle despite English being their second language.
2 days ago
The letter was written to a columnist in response to a piece taking a swipe at Sinatra.
2 days ago
In a special episode of Celebrity Family Feud, a WWE star decided to go for the one thing Harvey is known for.
2 days ago
Luck was shining for her as she was off to a flying start and won the car with a single card.
2 days ago
Sajak had a witty reply for the contestant who was fanboying over White during the game.
5 days ago
The model said that considering White's age she would also take the offer from Sony.
5 days ago
Sheila won a brand new entertainment unit, complete with an HD plasma TV and mini bar from Howard Miller.
6 days ago
The appraiser disclosed that Yoakum began painting in the 1960s and he created one unique piece of art every single day.
6 days ago
The entrepreneur also managed to get the sharks to taste the vegan alternative meant for pets.
6 days ago
Throughout the game Monica tried to calm her nerves by placing her right hand over her chest.
7 days ago
Harvey later realized that the contestant had a crush on him and they had a moment.
7 days ago
The host had warned the men in advance to not risk their marriage for some points.
Mar 24, 2025