Kevin Durant becomes minority owner of powerhouse French club Paris Saint-Germain in latest investment

Kevin Durant picked up a gold medal with Team USA in Paris this weekend, and nabbed a minority stake in PSG while he was there. (Photo by Gregory Shamus/Getty Images)

Kevin Durant just won gold at the 2024 Paris Olympics, but a medal isn’t the only think he picked up in Paris. The two-time NBA champion and 14-time All-Star has become a minority investor in French club Paris Saint-Germain.

Durant announced the investment through Boardroom, his media and entertainment business, on Monday. The investment from Durant and his business partner Rich Kleiman went through Arctos Partners, which purchased a 12.5% stake in the club in December, and is reportedly in the “single-digit millions.”

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

On Saturday, hours before Durant and USA basketball took on France in the gold-medal match, PSG posted a video of Durant taking a look at the PSG campus — perhaps hinting at his future investment.

🏀 Kevin Durant at the PSG Campus 🤝

📺 Before tonight’s final, take a look back at Kevin Durant’s visit to the PSG Campus 🔴🔵 pic.twitter.com/qZjHEXfPBW

— Paris Saint-Germain (@PSG_English) August 10, 2024

Durant is already a minority owner in two soccer teams: He became an investor in the MLS club Philadelphia Union in 2020, and joined the minority ownership of NWSL club NJ/NY Gotham FC in 2022. Durant also holds a stake in the Major League Pickleball club Brooklyn Aces.

PSG is one of the most dominant clubs in Europe, having won the past six titles in Ligue 1, the top French league. It is the seventh most valuable soccer club in the world, per Sportico, valued at $4.05 billion. The majority stake in the club is owned by Qatar Sports Investments, which purchased the club in 2011.

The club will be in a bit of transition after losing superstar Kylian Mbappé to Real Madrid this summer, but is still expected to do very well in Ligue 1.

Source link : https://ca.sports.yahoo.com/news/kevin-durant-becomes-minority-owner-of-powerhouse-french-club-paris-saint-germain-in-latest-investment-224906260.html

Author : Yahoo Sports

Publish date : 2024-08-12 22:49:06

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