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PARIS (AP) — NBA star Kevin Durant has acquired a minority ownership position in Paris Saint-Germain, the reigning Champions League champions, the French football club announced on Friday.
The club indicated that Qatar Sports Investments, which is the majority owner of PSG, has entered into an investment and strategic partnership agreement with Durant. The specific financial details of the arrangement have not been made public.
This announcement coincides with ongoing discussions involving the NBA, FIBA, and various organizations regarding the establishment of a new league in Europe.
According to PSG, Durant will lend his expertise to the club’s multi-sport strategy, which may include a foray into basketball.
Under the agreement, Durant will obtain a minority stake in PSG through his media and investment firm, Boardroom, which he co-founded with his longtime collaborator Rich Kleiman.
The forward for the Phoenix Suns is a two-time NBA champion and made history last summer at the Paris Olympics by becoming the first male player to win four gold medals in Olympic basketball.
Durant expressed, “It is a privilege to partner with QSI and hold a stake in Paris Saint-Germain, a club and city that means a great deal to me. This club has significant ambitions, and I eagerly anticipate contributing to its next phase of development and exploring new investment avenues with QSI.”
As part of this partnership, Boardroom Sports Holdings, Durant’s personal investment entity—which owns shares in several prominent sports teams and leagues—will collaborate with QSI on various commercial, investment, and content creation projects.
PSG also noted that Durant will assist in the club’s diversification and growth strategies, focusing on its expansion efforts in the United States and other global markets.
“We are excited to collaborate with Kevin on ambitious projects that will further propel the global expansion of Paris Saint-Germain and QSI,” remarked PSG president Nasser Al-Khelaïfi.
