The private equity firm that specializes in sports media would take a significant minority stake in the company, and Variety reported that Fenway Sports Group and Nike would also be part of the consortium.
The investment would value the production company between $650 million and $700 million. Representatives for RedBird and SpringHill did not respond to requests for comment.
In July, it was reported that James’ company was exploring a potential sale, either courting interest for a partial investment or an outright sale. The company at the time was looking for a valuation of up to $750 million, according to The Information, which first reported Wednesday’s news.
Nike was said to be among the potential suitors considering an offer. A deal would expand the relationship between the NBA star and the apparel company — a relationship