NBA star Kevin Durant bought a stake in Ligue I powerhouse Paris Saint Germain (PSG) to cap his 2024 Paris Olympics gold harvest on Monday.
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DURANT BUYS STAKE IN PSG TO CAP PARIS VISIT
Furthermore, Durant bought a 12.5% stake with PSG to cap his Paris visit not just with an Olympic gold medal but with a new title as a minority football investor.
The 35-year-old Phoenix Suns superstar invested with his business partner Rich Kleiman in the French club that went through Arctos Partners.
Moreover, Durant made the investment official by announcing it through Boardroom, his media and entertainment business, on Monday.
It was through Arctos Partners which purchased the 12.5% stake in PSG through Durant and Kleiman in December.
Incidentally, Durant has been friends with PSG president Nasser Al Khelaifi.
The basketball star has visited the Parc des Princes stadium and the Paris training ground before his decision to invest in the French club.
FOOTBALL FAN DURANT ADDS PSG AS MINORITY OWNER TO TWO OTHER CLUBS
Moreover, football fan Durant has added PSG as a minor to other clubs he had invested several years ago.
The 6-foot-10 forward first became an investor with Major League Soccer club Philadelphia Union in 2020.
He would later join the minority ownership of NWSL club NJ/NY Gotham FC in 2022.
Additionally, Durant also holds a stake in Major League Pickleball side Brooklyn Aces.
In PSG, Durant invested with the seventh most valuable soccer club in the world, according to Sportico.
The French club is currently valued at USD4.05 billion.
DEAL SEEKS TO BOOST PSG BRAND IN US THROUGH DURANT
Furthermore, the deal was aimed to boost PSG’s brand in the US through Durant’s popularity with his NBA status.
PSG’s marketing and sponsorship is expected to rise with Durant’s arrival as a minority investor.
Moreover, the club’s exposure through Durant is expected to get leverage as the US hosts the 2025 World Cup and the 2026 World Cup.
Durant has been excited to be involved with PSG, a source told ESPN.
The forward visited Campus PSG on August 6 to chat with players, staff, and coach Luis Enrique.
Before Team USA’s final match against host France in the Olympic men’s basketball tournament, Durant was seen in a video posted by PSG on his campus visit.
