SpringHill Company, the media venture created by LeBron James and Maverick Carter, is nearing a major investment from RedBird Capital.
The deal would reportedly value SpringHill at $650 million to $700 million. Nike and Fenway Sports Group are expected to join the investment. Nike has a $1 billion lifetime endorsement deal with James.
RedBird’s sports investments also include Toulouse FC, the XFL, YES Network, and On Location, the NFL’s hospitality provider.
- In March, James and Carter bought into Fenway Sports Group, which owns the Boston Red Sox, Liverpool FC, and Roush Fenway Racing. RedBird made a concurrent investment of $750 million for an 11% stake in FSG.
- In June 2020, SpringHill raised $100 million from Guggenheim Partners, UC Investments, SC.Holdings and others. It merged SpringHill Entertainment, media company Uninterrupted, and marketing company Robot into a single entity at that time.
- Last year’s fundraise saw Serena Williams, Elisabeth Murdoch, Live Nation Entertainment CEO Michael Rapino, Apollo Global Management co-founder Marc Rowan, and Red Sox chairman Tom Werner join SpringHill’s board.
On Thursday, SpringHill announced a deal with live audio app Clubhouse that will have the two companies produce a handful of new sports and culture shows.
SpringHill produced “Space Jam: A New Legacy,” and has production deals with ABC Studios, Universal, Audible. It previously worked with HBO, CNN, and Netflix.
Editor’s note: SC.Holdings is an investor in FOS.