LeBron’s SpringHill Sells Stake to Group Including Nike, Epic

The SpringHill Company, the consumer and entertainment business created by NBA star LeBron James and his business partner Maverick Carter, is selling a minority stake to a group of investors including Nike Inc., Epic Games Inc., Redbird Capital Partners and the owners of the Boston Red Sox.

The deal values the business, created last year by combining three existing companies founded by James and Carter, at about $725 million, Los Angeles-based SpringHill said in a statement today. The pair will remain chairman and CEO, respectively, and retain a controlling interest.

SpringHill, named for the apartment complex James ...