LeBron James and other partners in Liverpool owners Fenway Sports Group have added to their investment portfolios by taking a stake in a sports technology firm that has big ambitions.
James and business partners Maverick Carter and Paul Wachter, who all hold stakes in FSG, have joined a number of high-profile investors, including tennis star Naomi Osaka and rapper Drake, in StatusPro, a sports tech and gaming firm that combines player data and extended reality (XR), which includes augmented reality (AR) and virtual reality (VR), to create training and fan engagement products.
The XR market is anticipated to be worth some £42bn in the next six years, and James, Carter and Wachter have been quick to seize on the opportunity, with the Nike links also in effect through the investments of clients Osaka and Drake.
StatusPro was founded last year by former NFL player Andrew Hawkins, who had previously been an employee of James and Carter at their SpringHill Entertainment company.
KB Partners, TitletownTech, Greycroft, Verizon Ventures, Haslam Sports Group, and SC Holdings have also invested, along with significant Leeds United stakeholders, 49ers Enterprises.
StatusPro, who currently have the NFL's Baltimore Ravens, the NFL Players Association and a clutch of NCAA collegiate teams as clients, all within the American football sphere, are set to use the capital raised to invest in advancing technology and making the move into other sports, with football potentially part of their next play.
Hawkins said: "It’s incredibly humbling that pioneers of their level believe in us as founders and in our vision for this industry. We always say StatusPro is only as strong as our team, and our team just got a whole lot stronger."
His business partner and co-founder, former NFL player Troy Jones, added: "Besides the immense credibility our new investors bring to the business, they have proven the value of creating companies and brands that prioritise empowerment, diversity of thought, experience, and culture. These are some of the guiding principles of our business."
Last month James, who converted his two per cent in Liverpool into one per cent of FSG's overall business operations back in March, strengthened his ties with FSG.
The Liverpool owners invested, along with fellow FSG partners RedBird Capital and Liverpool kit suppliers Nike, in James and Carter's SpringHill business, valued at £540m.
James' business interests are expected to see continued moves linked to his existing relationship with FSG, which stems back to 2010 when the Boston-based organisation were chosen to manage his rights through Fenway Sports Management.
