According to reports by the magazine, Variety, RedBird Capital, 1/3 of the XFL ownership, i currently in advanced discussions with Springhill Company, an investment outfit owned by Lebron James. Springhill Company was valued at $750 million in July, and has sought investment in Nike.
James’s company is in advanced talks to secure a significant strategic investment from like-minded groups including Fenway Sports Group, RedBird Capital and Nike, insiders told Variety. Private equity interest in Springhill from RedBird are in what they’re calling “advanced stages”.
What Springhill brings to the table are; SpringHill Entertainment, Uninterrupted and the Robot marketing company. The entertainment division produced the movie blockbuster ‘Space Jam: A New Legacy’ earlier this year, which saw James taking over the role previously played by Michael Jordan in the original films.
The company is currently working on projects such as ‘House Party’ for New Line, and the upcoming Netflix film ‘Hustle’, produced by Adam Sandler.
Earlier this year, RedBird bought a ten per cent share in FSG, which owns Major League Baseball’s Boston Red Sox and English soccer giants Liverpool, for US$735 million. James joined FSG as a partner in March. So the two collaborating again should be of no surprise.
Variety says that while these discussions are ongoing, it seems Lebron’s company could also be talking with other entities about future business.
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