NBA superstar Kevin Durant is making waves beyond the basketball court by becoming a minority shareholder in Ligue 1's Paris Saint-Germain (PSG). According to The Athletic, Durant's investment firm, Boardroom, acquired shares through a separate financial vehicle established by Arctos Sports Partners.
Arctos Sports Partners had previously purchased a 12.5% stake in PSG in 2023, valuing the club at a staggering 4.25 billion euros (approximately $4.65 billion). Durant's investment involves a "single digit millions" purchase, signaling his confidence in the French football powerhouse.
The partnership between Durant and PSG was solidified during his visit to the club's new training center in Poissy. While in Paris to compete in the 2024 Summer Olympic Games, where he secured a gold medal with Team USA, Durant met with PSG's president, Nasser Al-Khelaifi. Durant's manager, Rich Kleiman, also attended the meeting, facilitating discussions about the investment.
Al-Khelaifi expressed his excitement about Durant's involvement, stating, \"It was an honor to welcome Kevin Durant to the Campus today and to witness his passion for Paris Saint-Germain and his recognition of the excellent sports facilities at our new PSG Campus training center. Kevin is an inspirational athlete, investor and all-round role model, both on and off the pitch. We are extremely proud of his connection to the Paris Saint-Germain family as we share the same values and vision. We look forward to strengthening our ties and working together with Kevin and Boardroom to bring the best in sport and entertainment to fans around the world.\"
Before Durant's investment, PSG had established a collaboration with Michael Jordan's brand, Jordan, spanning over five years. This new partnership with Durant marks another significant step in PSG's strategy to blend sports with high-profile investments, enhancing their global presence and business ventures.
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NBA superstar Kevin Durant becomes minority shareholder of PSG
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