LeBron James isn’t only skilled on the court but he also has a penchant for making major business deals.
In an investment the three-time NBA champ made in 2012 for Blaze Pizza, reportedly investing less than $1 million, he’s now making close to $25 million for his 10 percent stake in the national food chain.
According to ESPN, Blaze Pizza reportedly sold a portion of the company to a private equity firm, which made the company $250 million. “Every time LeBron tweets about Blaze, it’s like a sonic boom,” Elise Wetzel, one of the owners of Blaze told ESPN. “It jump-starts the conversation with tens of millions of people in the U.S. and around the world and leads to a genuine interaction between people who know and love the brand and people who haven’t heard of us.”
The pizza chain was dubbed the fastest growing restaurant franchise in the United States. Reportedly, James’ financial profit can reach up to $35 or $40 million. However, this isn’t the first time James has made a lucrative deal. He also raked in $30 million from the $3 billion sale of Beats to Apple.