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Phoenix Suns ahead Kevin Durant has bought a minority stake in Champions League winner Paris Saint-Germain, the Ligue 1 membership mentioned Friday.
Qatar Sports activities Investments, PSG’s majority shareholder, signed an funding and strategic partnership settlement with Durant, the membership mentioned in an announcement. Monetary phrases of the deal weren’t disclosed.
“Beneath the phrases of the partnership, Durant — by way of his media and funding firm Boardroom, co-founded with long-time enterprise associate Wealthy Kleiman — will purchase a direct minority stake within the membership,” PSG’s assertion mentioned.
The 36-year-old is a two-time NBA champion and one of many league’s elite shot makers.
Durant grew to become the primary four-time males’s gold medalist in Olympic basketball historical past when the U.S. took gold eventually summer time’s Paris Olympics.
“It’s an honor to associate with QSI and be a shareholder in Paris Saint-Germain — a membership and metropolis that’s deeply near my coronary heart,” Durant mentioned in feedback supplied by PSG. “This membership has massive plans and I stay up for being a part of the following section of development and exploring new funding alternatives with QSI.”
The announcement comes amid talks between the NBA, FIBA and different entities concerning the means of including a brand new league in Europe.
As a part of the deal, Boardroom Sports activities Holdings — Durant’s private funding automobile, which holds stakes in a variety of main sports activities groups and leagues – and QSI will be part of forces on a variety of economic, funding and content material manufacturing initiatives.
PSG added that Durant will help the membership’s diversification and development technique, in addition to the event of the membership’s improvement within the U.S. and different worldwide markets. He can even present experience on the membership’s multi-port technique, together with future plans in basketball.
“Along with Kevin, we stay up for growing formidable initiatives that may drive the continued international development of Paris Saint-Germain and QSI,” PSG president Nasser Al Khelaïfi mentioned.
In 2020, Durant acquired a 5% stake within the MLS membership Philadelphia Union.
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