LeBron James is already putting to good use his new extension money

LeBron James is already putting to good use his new deal with the Lakers. The Purple and Gold gave him a $97 million extension, which makes the ‘King’ the highest-earning player in NBA history, as he surpassed Kevin Durant with a $530 million guarantee. Now LeBron James is going to invest some of that money to become a shareholder of the Italian soccer team AC Milan.

According to a report from the Financial Times, “The New York Yankees baseball franchise and a Los Angeles investment fund are investing in AC Milan alongside US private equity group RedBird, which is closing in on the €1.2bn acquisition of Italy’s football champions, two people with direct knowledge of the matter said.”

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LeBron James won't be the only international figure to invest in the team. Reports say that rapper and basketball enthusiast Drake will be investing alongside James. Milan is coming from their first local championship since 2011. And this could be an indication the Lakers star might be interested in owning more sports teams.

“The baseball team, owned by the Steinbrenner family, and Main Street Advisors, the LA-based fund that counts among its investors basketball star LeBron James, famed music producer Jimmy Iovine and rapper Drake, will become shareholders in the Serie A team."

LeBron James sports team ownership

Not so long ago, LeBron James announced that he would be interested in  owning an NBA team. Reports say that he would be interested in owning the Las Vegas-based extension team, if that happens.