Phoenix Suns forward Kevin Durant has purchased a minority stake in Champions League winner Paris Saint-Germain, the Ligue 1 club said Friday.
Qatar Sports Investments, PSG’s majority shareholder, signed an investment and strategic partnership agreement with Durant, the club said in a statement. Financial terms of the deal were not disclosed.
“Under the terms of the partnership, Durant — via his media and investment company Boardroom, co-founded with longtime business partner Rich Kleiman — will acquire a direct minority stake in the club,” PSG’s statement said.
amid talks among the NBA, FIBA and other entities about the process of adding a new league in Europe.
As part of the deal, Boardroom Sports Holdings — Durant’s personal investment vehicle, which holds stakes in a number of major sports teams and leagues — and QSI will join forces on a wide range of commercial, investment and content production initiatives.
PSG added that Durant will support the club’s diversification and growth strategy, as well as the club’s development in the U.S. and other international markets. He will also provide expertise on the club’s multi-port strategy, including future plans in basketball.
“Together with Kevin, we look forward to developing ambitious initiatives that will drive the continued global growth of Paris Saint-Germain and QSI,” PSG president Nasser Al Khelaïfi said.
In 2020, Durant acquired a 5% stake in the MLS club Philadelphia Union.
Source: https://www.espn.com/soccer/story/_/id/45551409/nba-kevin-durant-buys-minority-stake-psg-qsi-partner
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