According to The Hollywood Reporter, Lebron James’ company with Maverick Carter, SpringHill, just secured a new round of funding. As a result, the company now has a valuation of $725 million. RedBird Capital led the current investment round. Meanwhile, Epic Games chipped in an undisclosed dollar amount alongside Nike and the Fenway Sports Group. However, the most interesting part here is Epic’s investment, with SpringHill saying it will use the money to “bring unique content to the metaverse.”
Are we going to see more of Lebron James in Fortnite?
Earlier this year, Epic had already partnered with Lebron James. Epic brought in Lebron’s likeness to the game in the form of playable character skin. This was part of SpringHill’s marketing efforts for the James-led Space Jam sequel, Space Jam: A New Legacy. Although A New Legacy was critically panned, it still made more than $170 million at the global box office, which is slightly higher than its $150 million budget. With that said, it is unknown what Epic Games’ involvement with Lebron James’ company means for Fortnite going forward. What we are sure of here is that Epic just got a chance to work even more closely with Lebron, who is a multi-faceted athlete with a considerable amount of business savvy. The four-time NBA champion is a fan of video games himself, having been pictured several times in the past with a console. Also, a deal that includes Lebron extends to the James family. Lebron’s son, Bronny James, is also a member of FaZe Clan, one of the most popular esports organizations in the world. As for Springhill, the company’s future is brighter than ever. Carter, who is Lebron’s longtime friend, explained that the investment will give SpringHill the necessary funding to produce more content. SpringHill will also use the money to acquire other production companies, as well as invest in and buy more intellectual properties. Carter added that SpringHill’s revenue is expected to soar past $100 million in the next year.
