Last week, several sports channels and websites had this headline on for a couple of days; reporting on the decision by an NBA star and the current reigning MVP, LeBron James, to buy minority stake in one of the most successful football clubs in the world, Liverpool FC.
Many labeled the move ‘smart’ and filled with lots of potentials. As a big fan of both Liverpool FC and LeBron James, I welcomed the news with lots of enthusiasm and enjoyment as I watched my two most favorite sports phenomena create what promises to be a successful collaboration.
Liverpool FC is a professional football club based in Liverpool, England. It is regarded as England’s most decorated club, and one of the most successful clubs in football history. The club is currently owned by an American sports investment company called Fenway Sports Group, which also owns the Boston red Sox and Roush Fenway Racing.
Fenway Sports Group made a deal with LeBron’s marketing firm, LRMR Branding & Marketing to be LeBron’s representative around the world and in return LeBron would become a minority owner in Liverpool FC (Hunter, 2011). The deal is supposed to expand Liverpool FC’s brand in the United States, while doing the same thing for LeBron James around the world. It is a win-win for both sides as each already possesses an established and widely recognized brand in the sports world.
References
Hunter, A. & Rushe, D. (2011, April 7). Miami Heat’s LeBron James secures minority share in Liverpool. Retrieved April 10, 2011 from http://www.guardian.co.uk/football/2011/apr/07/lebron-james-liverpool
Yahoo Sport. (2011, April 7). Premier league – NBA star LeBron buys Liverpool share. Retrieved April 10, 2011 from http://uk.eurosport.yahoo.com/07042011/58/premier-league-nba-star-lebron-buys-liverpool-share.html
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