Liverpool’s leadership wants to use LeBron James to promote the club’s image worldwide.

Fenway Sports Group (FSG) – the parent company of Liverpool FC – has signed a collaboration contract with LeBron James’ marketing company.

Liverpool owners FSG are pushing ahead with ambitious expansion plans after agreeing a £540m investment deal with RedBird Capital Partners.

That deal will also see LeBron James become FSG’s new partner. The basketball superstar has held a stake in Liverpool since 2011. But now one of the world’s wealthiest and most influential athletes will take on a more important role with Fenway Sports Group.

James and his business partner, Maverick Carter, will become the first black partners in FSG history, as the Boston Globe reports. James will become a part owner of the Red Sox as well as other FSG affiliates.

James held a 2% stake in Liverpool in 2011, then worth £4.7 million. According to KPMG’s recent assessment of the club, this stake is now worth more than £37 million.

James’ influence is positive information for FSG’s growth ambitions. James’ rise in role also significantly enhanced the value of FSG.

America’s top basketball star will become Liverpool’s special global ambassador. In return, LeBron James owns a number of shares in England’s most traditional club. The stake was not disclosed, but is expected to be small.

“This is a big opportunity for me,” the NBA star happily shared. “For the first time, I stepped out of the NBA arena to become a businessman.”

As one of the greatest basketball players in history, James still shows respect when talking about Liverpool’s 18-time national championship achievement. “I want myself to try to do the same things as this team.”

Explaining the decision to choose James, FSG and Liverpool Chairman Tom Werner said: “We think this is one of the most notable athletes today. We believe we can open doors for LeBron and vice versa, he can open many doors for us.“