Nine Figure Worth of Capital For Lebron James' Company Deal

The company expects to surpass $100 million in revenue during the next 12 months.

The SpringHill Co., James' entertainment company, has obtained a private equity-led investment to drive the Los Angeles Lakers star's expansion in film, television, video games, consumer items, and live events.


Springhill has finalized a transaction to purchase a major minority share in the company, which was led by RedBird Capital Partners, a New York-based firm renowned for HBO's "The Shop" and the film "Space Jam: A New Legacy."


Fenway Sports Group, the owner of the Boston Red Sox, Nike, and Epic Games, the creators of "Fortnite," are among those involved in the transaction. SpringHill, located in Los Angeles, is valued at $725 million in the transaction.


According to SpringHill CEO Maverick Carter, the agreement would allow SpringHill to develop their own content, with the capacity to fund and oversee the production, and will allow creators to retain ownership.


According to Carter, the firm aims to reach $100 million in revenue over the next 12 months, a 67 percent increase over the previous year, when SpringHill produced roughly $60 million in sales.


The SpringHill acquisition is the latest high-profile production firm investment in the entertainment industry's gold rush for content. Media firms have been clamoring for new series and movies to populate their streaming services.


Lou Ella

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