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But the real key to James’ billion-dollar fortune: He’s been more than just a pitchman. James has long structured deals to give him equity in brands he partners with, giving him a cut of the upside instead of a quick paycheck. In 2015, James walked away from an endorsement agreement with McDonald’s, worth an estimated $15 million over four years, to instead gamble on the fast-growing Blaze Pizza chain, where he’s an investor. He’s taken equity in brands like smart gym-maker Tonal and rideshare giant Lyft as well. Then there’s SpringHill, the TV and movie production outfit built by James and business partner Maverick Carter. Last October, outside investors including Boston Red Sox owner Fenway Sports Group and Epic Games bought into the venture–which helped produce the $163 million (worldwide box office gross) Space Jam: A New Legacy and HBO documentary What’s My Name: Muhammad Ali–at a $725 million valuation. James, of course, remains the biggest shareholder.
Bill Oram: Today in Harlem, LeBron James surprised a group of teens as part of a partnership announcement between Lyft and the YMCA. These kids get free access to bikes for a year. Can’t get enough of their reactions when LeBron walks into the gym.
Today in Harlem, LeBron James surprised a group of teens as part of a partnership announcement between Lyft and the YMCA. These kids get free access to bikes for a year. Can’t get enough of their reactions when LeBron walks into the gym. pic.twitter.com/nzwT0wiGZI
— Bill Oram (@billoram) January 21, 2020
Embiid, who is rehabilitating a left knee injury, was spotted playing tennis Sunday night on a Philly court. Then a Lyft driver saw him jogging in the city Monday night. Embiid was heading home after a second night of tennis with a member of the Sixers’ coaching staff.
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