NBA star LeBron James’ newly formed entertainment and consumer products firm The SpringHill Company has received investments from Elisabeth Murdoch, Jane Featherstone and Stacey Snider’s production company Sister (Chernobyl), Guggenheim Investments, The University of California’s UC Investments and private equity firm SC.Holdings.
Financial details of the funding, unveiled on Thursday, and the sizes of the investors’ stakes weren’t disclosed, but Bloomberg News put the overall investment at $100 million.
Sister is the only non-financial backer, becoming a strategic partner for SpringHill with the ambition to identify projects over time that the firms can work on together.
Maverick Carter serves as CEO of SpringHill, which combines James’ SpringHill Entertainment and two other firms, Uninterrupted, an athlete empowerment media and consumer products firm, and The Robot Company, a brand and culture agency. James serves as chairman of the board.
The firm’s board also includes Carter, Serena Williams, Murdoch, Live Nation Entertainment CEO Michael Rapino, Marc Rowan, co-founder of private equity firm Apollo Global Management, Paul Wachter, who is James’ and other celebrities’ investment advisor, Guggenheim Investments’ B. Scott Minerd and Tom Werner, chairman of the Boston Red Sox and English soccer club Liverpool.
The investment closed in March, but was only announced on Thursday.
“I’ve always wanted to use the platform of basketball to empower those around me. Now I’m incredibly excited about the opportunity to build a company that empowers creators, consumers, and everything it touches,” said James. “The SpringHill Company defines empowerment. You see it in the team we’ve built, the stories we tell, and the community our work will serve.”
“We’re thrilled to be bringing Uninterrupted, SpringHill Entertainment and The Robot Company under one roof with a singular mission to empower,” said Carter. “Together with our new partners and incredible team, we are building a consumer and entertainment business that’s committed to diversity, that’s unafraid to stand up for what we believe in and that’s resonating with our community.”
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