Suns’ Durant buys stake in Ligue 1 champs PSG
Credit to Author: Julien Laurens| Date: Tue, 13 Aug 2024 08:38:00 EST
Kevin Durant discusses how Team USA was able to put it together in the fourth quarter and beat Serbia. (1:39)
NBA star Kevin Durant has become a new minority shareholder of three-time defending Ligue 1 champions Paris Saint-Germain, the French club announced on Wednesday.
The recent Olympic gold medalist with Team USA at the 2024 Olympics has invested a few millions dollars of his own money to join the club, a source told ESPN.
He did so via Arctos Sports Partners, the American investment fund which bought a 12.5% stake in the club in 2023, with PSG valued at $4.6 billion (€4.25bn). The aim of Durant’s arrival at the club is to further develop the PSG brand in the U.S. from a marketing and sponsorship point of view, especially with the 2025 Club World Cup and the 2026 World Cup set to be hosted in America over the next two summers.
Durant, 35, who plays for the Phoenix Suns, is a big soccer fan and part owner of MLS side Philadelphia Union. He is a good friend of PSG president Nasser Al Khelaifi and has visited the Paris training ground and Parc des Princes stadium several times prior to his investment.
As recently as Aug. 6, he went by the Campus PSG to say hello to some of the players, staff and head coach Luis Enrique.
Durant is very excited to be involved with the club, a source told ESPN, and is very serious about his investment in the club.