It is well known that Lakers star LeBron James has a very diverse portfolio when it comes to his investments. Amongst them you will find him involved with Liverpool FC and also French club Toulouse, but it seems as if he is very close to becoming an owner of a third European team.
Spanish outlet Cadena COPE reported throughout the past few days that US-based investor group, Red Bird Capital (company James is part is involved in)bought 600 shares of Málaga CF as the club is in dire need of finding new money and revenue streams to pay off debts and be able to field a competitive team.
During the past few years, the team was managed by club president José María Múñoz. During this time he has made all sorts of efforts, both economic and tribunal to be able to regain moneys lost in the past by the club as they are still owned (in name only) by Abullah Al-Thani, member of the Qatari Royal Family.
This story would not be that relevant worldwide had it not been because the Lakers star would be involved in the apparent transaction. Sport Direct Radio also confirmed that RedBird Capital Partners are the investment firm that has come in to invest with the club. As is well known, LeBron James is part owner of that group.
So it can be said that the former Heat and Cavs star is the owner of a small percentage of the Spanish second division side.
This, of course, has set the Spanish media ablaze as many outlets began reporting this regionally and now it is a national news story that continues to develop.
Some are even looking at this move with a very jocular, but excited tone. Such is the case with NBA rightsholder in that country, Movistar. After the news began to break, they posted two tweets.
The first one was that of Marc Gasol on the bench alongside Toronto Raptors Yuta Watanabe.
– Marc, are you going with LeBron to the Málaga Fair?
– Can I go with you?
– Excuse me, who are you?
The one that followed was “Lebron seeing the lines at the Málaga Fair in order to get a Cartojal.
They already have a poll regarding which of all the sights in Málaga will LeBron enjoy the most.
Málaga In Midst of Malaise
Málaga find themselves mired limbo in the Spanish second division are guaranteed another season in that competition after another disappointing performance. They currently find themselves in 11th place in the La Liga and with 49 points, nine behind the pace for one of the playoff spots. This with five rounds left in league play.
Currently, Red Bird would not be the only investors. There are many others that have been able to buy stock in the club at around €2000 (approximately US$2,400) a share.
In the end, one will have to wait on the amplification of capital to see if they have any decision -making powers within the club. If this were the case, and with the dire situation of the club, it could be very feasible to seeing Red Bird possibly being a majority owner in the long run. As of right now, this are in “wait and see” mode to see what the endgame is in the south of Spain.
One thing is for sure, the fan base in that city is excited to see something new after several years of disastrous leadership from their absentee owner.