New Delhi: NBA star Kevin Durant has obtained a minority shareholding in Paris Saint-Germain, the reigning Ligue 1 champions, the French club announced on Wednesday. According to media reports, the Olympic gold medalist was with Team USA during the Paris Olympics 2024 and invested his own money to become a stakeholder in the club.
Durant bought the stakes through Arctos Sports Partners, the American investment fund that bought about 12.5% of the club’s shares, valued at around $4.6 billion (£3.64bn). His investment firm Boardroom bought a “single digit millions” worth of shareholding through a separate financial segment created by Arctos. Durant’s arrival is expected to enhance PSG’s brand image in the US from a marketing and sponsorship point of view. Further, the 2025 Club World Cup and 2026 World Cup will be hosted in North America over the next couple of summers, and this will help spread European football across America as well.
Durant plays for the Phoenix Suns in the NBA. The 35-year-old is a big fan of football and is already a part owner of MLS team Philadelphia Union. He is known for being on good terms with PSG president Naseer Al Khelaifi and was previously spotted visiting the Paris training ground and Parc des Princes stadium. Durant, along with his manager and Boardroom co-founder Rich Kleiman, met Al-Khelaifi, and both sides presented each other.
𝐊𝐞𝐯𝐢𝐧 𝐃𝐮𝐫𝐚𝐧𝐭 at the PSG Campus ❤️💙
Kevin Durant, world renowned American basketball champion, visits the Paris Saint Germain Campus and meets with PSG’s President Nasser Al Khelaifi.
He takes time out of his Olympian schedule to visit the PSG Campus, Paris… pic.twitter.com/DjBBSV5T3O
— Paris Saint-Germain (@PSG_English) August 5, 2024
Al-Khelaifi spoke on Durant’s visit and his passion for the new PSG training. He further mentioned that the US basketball player was an “inspirational athlete” and was a role model both in and out of sports. He ended by saying that Durant stood with every value that PSG holds and hopes to bring the best in sports and entertainment to fans worldwide. According to media sources, he was quite excited to join the club as an investor.
Durant has been exceptional in his field. His record of four Gold medals in the Olympics is a first in Men’s basketball. He is also the highest scorer for the US in Olympic competitions, either men’s or women’s. PSG owns a few teams apart from men’s and women’s soccer, including handball, judo, and esports. Though they don’t have a basketball team yet, this won’t be their first link with the basketball world. They are partnered with Jordan, a sports shoe brand from basketball icon Michael Jordan, and the agreement is now in its sixth year.
The NBA star recently visited the PSG training ground and Parc des Princes stadium during USA’s Paris Olympics 2024 Gold medal triumph. Football Sports News: Latest Cricket News, Cricket Live Score, Sports Breaking News from Sports Today
