According to a new report, SpringHill, the media company co-founded by basketball star LEBRON JAMES (39) lost $28 million on sales of $104 million last year. SpringHill, which is run by James' childhood friend MAVERICK CARTER (44), lost $17 million in 2022 and is on pace to lose millions more in 2024.

The SpringHill Company, which promotes itself as "a global consumer and entertainment brand created to empower greatness in every individual," was formed by combining three companies built by James and Carter:  Uninterrupted, the athlete empowerment media and consumer product company, SpringHill Entertainment, a "premium" scripted and unscripted film and television production company and The Robot Company, which deals in the brand and culture consultancy.

SpringHill co-produced Space Jam: A New Legacy starring James, which was a box-office flop that received negative reviews and won three Golden Raspberry Awards, including Worst Actor for James. 

Klutch Sports, a sports agency run by RICH PAUL (43), who is also a longtime friend of LeBron, was sued by a former client for "failed promises and professional negligence" that cost him up to $58 million in lost contract money. Paul and his agency are currently being sued by a former busines partner, who claims Klutch Sports Group LLC violated the terms of their agent agreement.

Source: Bloomberg

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