Why FSG are stepping back from LeBron James NBA ownership dream

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Fenway Sports Group (FSG) have reportedly passed on the chance to partner with LeBron James for an NBA team expansion. That relationship deepened in 2021 when James formally joined FSG as a partner, taking a 1 percent stake in the wider group — meaning he holds a slice of the Boston Red Sox alongside his Liverpool interest.​ For Liverpool fans, it has always been an unlikely but genuinely cool connection.

James previously stated that he wanted an NBA team in Las Vegas, and FSG were always widely expected to be his primary financial backer in making that happen. A source close to James told The Athletic bluntly: “With Fenway no longer pursuing NBA ownership, it is less likely that LeBron will pursue a team.” The NBA’s board of governors is set to vote on March 25 on whether to formally evaluate Las Vegas and Seattle as expansion markets, a step widely expected to pass.

But without FSG in his corner, LeBron James may find his Vegas dream slipping further and further away. Fenway Sports Group lebron james