While in France, Kevin Durant bought minority stake in soccer powerhouse Paris Saint-Germain

Basketball – Olympic Games Paris 2024: Day 15

Kevin Durant left Paris with more than just gold.

While in Paris, Durant finalized purchasing a minority stake in the legendary soccer club Paris Saint-Germain through his business arm, Boardroom Sports.

BREAKING: 2x NBA Champion Kevin Durant has invested in Paris Saint-Germain through his Boardroom Sports Holdings, LLC via Arctos Partners, the strategic minority investor in the club.

Further details to be announced shortly. pic.twitter.com/pcXSJugqf6

— Boardroom (@boardroom) August 12, 2024

While in Paris, Durant took time out to tour the PSG campus and met with team president Nasser Al-Khelaifi.

PSG plays in Ligue 1, the top French league, where it is the defending champion and has been the dominant force for more than a decade. However, this summer it lost French star Kylian Mbappé to Real Madrid. Still, PSG is a deep team and the heavy favorite to repeat as Ligue 1 champions.

This is an investment in the “single-digit millions,” with Durant and Boardroom Sports investing through a special arm of Arctos, a private investment firm that owns 12.5% of PSG. Durant also owns a piece of the Philadelphia Union of the MLS.

Durant is not the only NBA player to own a piece of a European soccer club. LeBron James, through the Fenway Sports Group, owns a piece of Liverpool FC of the Premier League. Steve Nash, a huge soccer fan and player, is part owner of the Vancouver Whitecaps FC of the MLS and RCD Mallorca, James Harden owns a piece of the Houston Dynamo of the MLS, and Dwayne Wade owns part of Real Salt Lake of the MLS.

Source link : https://finance.yahoo.com/news/while-france-kevin-durant-bought-212825769.html

Author : NBC Sports

Publish date : 2024-08-12 21:28:25

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