After becoming the champion in Paris 2024, the NBA star focused on business and acquired a small percentage of shares.
With the Olympic Games just over, a member of the United States team wants to make a splash on French soil. And apparently having a new gold medal (against the locals) wasn’t enough, and that’s why he took a small part of a club. This is Kevin Durant, one of the main protagonists of the North American National Team, who as of Monday became the new minority partner of PSG. The Phoenix Suns forward has agreed to a participation in return, according to ‘L’Équipe’, from “a few million euros”
The forward visited the team’s facilities last week, before participating in the Olympic Games. Both parties said they had plans together, which was confirmed on Monday, after the agreement between the player and the French institution was made official. Durant will be the second minority shareholder with about 2% of the total. The agreement will be announced in the coming days.
The president, Nasser Al Khelaïfi, a close friend of the Phoenix Suns player, spoke about this strategy and the expansion plans in the United States. “It is an honor to welcome Kevin Durant to the Campus and witness his passion for Paris Saint-Germain and his recognition of the excellent sports facilities of our new PSG Campus training center. Kevin is an inspiring athlete, investor and role model , on and off the field. We are proud of his connection to the Paris Saint-Germain family, as we share the same values and vision. “We look forward to strengthening our relationship and working with Kevin and Boardroom to deliver the best in sports and entertainment to fans around the world.”
This is not Durant’s first football-related investment. In 2020 he invested in MLS, acquiring a large percentage of the Philadelphia Union. At that time the percentage was 5% of the team shares, with the possibility of getting more in the future. “I was a fan of the sport, and then I saw how quickly the popularity of the league grew, I saw more fans appear in different cities around the country, and then I saw how the franchises that it individually affects businesses and people in the city., Durant told ESPN at the time. This business is close to 17 million dollars, of the Phoenix Suns player. Durant also admitted that the investment was a first step in his goal of “one day” owning an NBA team.
From the NBA to soccer
The former Brooklyn Nets is also not the first basketball player to be related to the world of football. Lebron James became one of Liverpool’s majority shareholders by acquiring 12% of the shares in 2011. James Harden, currently with the Los Angeles Clippers, owns a minority stake in the investment group that controls at the Houston Dynamo of the MLS.
Source: Tycsports
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