Reuters
LeBron James attends a premiere for the film “Shooting Stars” in Los Angeles, California, U.S., May 31, 2023. REUTERS/Mario Anzuoni
Reuters
LeBron James attends a premiere for the film “Shooting Stars” in Los Angeles, California, U.S., May 31, 2023. REUTERS/Mario Anzuoni
One might assume that owning an NBA team would be a natural progression for LeBron James. Even the NBA icon’s entrepreneurial ventures and undeniable influences favor that chance. But there’s a surprising twist to this tale preventing King from entering the exclusive club of team owners.
So why LeBron James can’t own an NBA franchise despite hinting at contemplating his future this off-season?
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LeBron James’ ownership dilemma
There is something called Collective Bargaining Agreement in the NBA. It is like a rulebook that governs how players and the league interact.
In Article 29, Section 11 of the latest agreement, there’s a pretty interesting rule: Active NBA players aren’t allowed to have any financial stake in an NBA team.
Getty
DENVER, CO – FEBRUARY 12: LeBron James (23) of the Los Angeles Lakers looks into the stands after a spectator threw a hat onto the floor as he and his squad played the Denver Nuggets during the fourth quarter of Los Angeles’ 120-116 win on Wednesday, February 12, 2020. (Photo by AAron Ontiveroz/MediaNews Group/The Denver Post via Getty Images)
The NBA wants every team to have an equal shot at success without any funny business. The idea behind this rule is to prevent any potential problems that could arise if players were owners. The aim is to avoid any perception of favoritism or unfair advantages.
So even with a net worth of $1.2 billion, King is still bound by the rules.
Farewell upon son’s arrival
LeBron James has already dropped hints about his retirement plans. He revealed that he intends to keep playing until his son Bronny James is eligible for the NBA draft.
Speculation suggests that Bronny could enter the draft as early as the 2024-25 season. Till that happens his legend father has to cool his heels for the next game plan.
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But with LeBron’s net worth and ambitions coupled with the league’s regulations, it’s only a matter of time before one can witness the transition from superstar player to potential team owner.
Written by
Edited by
Bilal Handoo