LeBron James LLC borrowed nearly $300M against future earnings from life insurers
Bloomberg reported that an LLC controlled by LeBron James borrowed nearly $300 million from a pair of Midwestern life insurers, with portfolios managed by an arm of Guggenheim, secured against his future off-court earnings around the time he signed with the Lakers in 2018. Multiple independent sources corroborated the financing arrangement.
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@ComplexSports
LeBron was making money moves off the court too 💰 Around the time he signed with the Lakers in 2018, James reportedly secured nearly $300M in financing backed by his future off-court earnings. Via @bloomberg https://t.co/TbAiUb4CXC
@BalliesUniverse
Your life insurer helped finance LeBron James. An LLC he controls borrowed almost $300M against future earnings. The buyers? Life insurers, with portfolios managed by an arm of Guggenheim 👀 Funds you'd expect to be buying boring bonds are now financing illiquid celebrity https://t.co/tILNzd1HdS
@business
When LeBron James signed up to lead the Los Angeles Lakers to NBA glory with a $154 million contract in 2018, it wasn’t the biggest deal he did that year. Just months before he joined, an LLC he controls borrowed almost $300 million from a pair of Midwestern life insurers. Read https://t.co/CC8crNck51