LeBron James’ new business move has fans buzzing, with some even asking for him to be banned from the NBA.
LeBron James has faced some criticism after announcing his new business partnership with Polymarket. Getting ready for his 24th NBA season, LeBron gave fans a sneak peek with a short video of himself stepping out of an elevator and pressing the “sports” button in an office building. He captioned it, “Welcome to Polymarket HQ. Coming soon.”
Later on Tuesday, the full video appeared on both his and Polymarket’s social media, confirming the exclusive partnership. In the star-studded clip, LeBron walked through the office, building excitement about the collaboration.
According to Front Office Sports, the deal mainly focuses on football, which is why LeBron held a football during the ad. Polymarket is a prediction market where people trade on what might happen in the future. It’s a bit different from traditional sportsbooks in the U.S. and replaces his previous partnership with DraftKings, which ended this summer.
This move follows Giannis Antetokounmpo’s investment in Kalshi, a similar company, earlier this year. Polymarket has also partnered with tennis legend Maria Sharapova.
While the deal doesn’t break any NBA gambling rules, some fans weren’t happy. They voiced their concerns and even called for LeBron to be suspended over the partnership. One fan commented, “Unfortunately, this will impact his legacy.” Another said, “Professional athletes shouldn’t partner with prediction markets.” Others urged the NBA to take action, with comments like “Ban LeBron for 1 year” and feeling disappointed that LeBron, worth $1.4 billion, chose to promote gambling to young people.
LeBron, a four-time NBA champion, has earned a lot on the court and is now willing to take a pay cut in what might be his final NBA contract. He’s expected to make $3.9 million a year on a veteran’s minimum deal.
But thanks to smart investments and big endorsements, LeBron is worth $1.4 billion overall. He has a lifetime deal with Nike and has worked with big companies like Pepsi. He also owns part of Fenway Sports Group, which owns Liverpool FC, and was an early investor in Beats by Dre. When Apple bought Beats for around $3 billion in 2014, LeBron benefited a lot.
He’s also invested in companies like Tonal and Lyft. One of his best business moves was buying about 10% of Blaze Pizza for under $1 million. Though he turned down a $15 billion deal with McDonald’s, Forbes reported in 2022 that his Blaze Pizza shares were worth double that now.