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“He’s smart about business, but he’s just a smart guy. I noticed that the first time I met him…. And you know he doesn’t miss anything”. Warren Buffet said about LeBron James when highlighting the player’s business acumen. Over 5 years after Buffet’s eye-opening remarks, fans saw that quality within the NBA star continues to improve.
After all, no one becomes the only active Billionaire NBA player, and one out of three overall, out of sheer luck. The fame and money gained from his playing career allow LeBron to continue adding his diverse portfolio of investments and endorsements. Unfortunately, not every business decision can be fruitful. The player may begin to realize this about one of the brands he chose to place his faith in.
Earlier today, self-described podcaster Jillian Braverman put out a thread on X. It described how the United Pickleball Association (UPA) needs to secure an emergency bridge loan of $10 million by January 15. That is if it wishes to meet its “financial obligations”. The Association was created after Margaritaville announced a merger back in February 2024, between two of the leading professional pickleball organizations: the Carvana PPA Tour (“PPA Tour”) and MLP by Margaritaville (“MLP”).
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Pickleball games had reportedly gotten more viewership than WNBA and MLS Cup games. Despite this, an analysis highlighted the merger did not work because of several reasons. Issues have started creeping up prominently as a player coalition formed to oppose the merger amid reports of player salary reductions, and revelations showed that only $35 million was raised, instead of $75 million, due to the merger. In fact, Jillian Braverman went so far as to question whether this merger will go down as the sports equivalent of the infamous Fyre Fest.
Why would the X user compare the alleged failed merger to the Fyre Fest, though? Well, for one thing, it had the backing of quite a few renowned celebrities. LeBron James had joined a consortium two years ago, that looked to buy an expansion franchise in Major League Pickleball (MLP) when the competition was growing from 12 to 16 teams. Other renowned MLP owners include NBA veteran Kevin Durant and NFL legends Tom Brady and Patrick Mahomes. Therefore, this recent update about the pickleball organization affects all of them. Not only does the trouble from the merger affect their ROI (Return on Investment), but it may also affect their reputations as savvy investors.
The investment in a Pickleball team wasn’t LeBron James’ first foray into adding a sports team to his business portfolio. Earlier, the 4x NBA champion had invested in the Fenway Sports Group and even increased the stake by March 2023. This move gave him partial ownership of the Boston Red Sox, Liverpool, and the Pittsburgh Penguins.
As the NBA looks toward a potential expansion, LeBron James is in talks to make a bid for a potential Las Vegas Expansion team. He may face some competition from the likes of Shaquille O’Neal and Candace Parker. Till then, however, the Pickleball team investment was amongst the most prominent in the sports category of LeBron’s portfolio. As of now, the NBA player has not publicly commented about any trouble the merger faces.
If the reports of issues are true, it is bad news for the LA Lakers star. However, the NBA player might not dwell on it too much. He would take the issue as a lesson and move on. After all, that would not be the first bad investment that LeBron James has made.
LeBron James’ once listed a Las Vegas property investment among his worst decisions
Everyone makes mistakes when they’re younger, right? Well, for LeBron James, that mistake involved making an investment decision out of haste. In January 2018, LeBron James sat down for an interview with ‘Uninterrupted’. During the discussion, he recalled another training camp that was taking place in Las Vegas. The year was 2005, making it either the 2 or 3 NBA season for LeBron. The experience in ‘Sin City’ was something that the then-young player enjoyed so much that it compelled him to go out and purchase a property.
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“I’m young, I don’t know that…. Okay yeah, I’m there for a week. I’m having a ball. They’re playing, also having a good time. I’m 21-22, my family’s coming out, they love it. ‘Let’s buy a house’” said LeBron.
When he recalled that purchase during the interview, the player was compelled to state then, “Who buys a house in Vegas?”
via Imago Dec 31, 2024; Los Angeles, California, USA; Los Angeles Lakers forward LeBron James (23) moves the ball against the Cleveland Cavaliers during the first half at Crypto.com Arena. Mandatory Credit: Gary A. Vasquez-Imagn Images
The NBA All-Time Scorer did not disclose just how much he lost in the Las Vegas house investment. From that point onwards, however, LeBron James created another collection of house investments that worked in his favor. The only other time things didn’t pan out for him was when he sold his Brentwood colonial mansion, purchased for $21 million in 2015, for $19.6 million in 2021. It was LeBron’s first investment in Los Angeles.
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This shows that the player is not privy to making mistakes for major investments. Now, it remains to be seen how the one made in the Pickleball League pans out.