NBA player Durant invests funds in PSG, indicating potential growth for basketball within the club's future plans.
NBA All-Star Kevin Durant Takes a Leap into Soccer and Expands PSG's Basketball Horizons
NBA powerhouse Kevin Durant has dropped a major bombshell, announcing his acquisition of a minority stake in the French soccer juggernaut Paris Saint-Germain (PSG). With the club's Champions League triumph this year, this collaboration is surely a force to be reckoned with.
Durant, the two-time NBA champion and four-time Olympic gold medalist, has signed a share purchase and strategic partnership agreement with PSG's major shareholder, Qatar Sports Investments (QSI), through his company Boardroom.
"No words can describe my excitement for this partnership with QSI and owning a piece of my heart's home club, Paris St Germain," Durant, who snatched the gold at the Paris Olympics last year, shared his heartfelt sentiment. "This club has big dreams, and I am thrilled to be a part of the next chapter of their growth and explore new investment opportunities together."
With PSG already engaging in preliminary conversations with the NBA about potential investments and venues for a new basketball league in Europe, Durant's entry into the fold is a strategic masterstroke. The basketball superstar, who previously established a connection with PSG through the club’s minority shareholder Arctos Partners, will team up with QSI on a variety of commercial, investment, and content production projects.
In addition to bold moves in the soccer realm, Durant will also support PSG's efforts at diversification and growth on both the sports and commercial fronts, including establishing the club's strategy in the U.S. and other international markets. The 36-year-old shooting guard is expected to contribute his expertise on PSG's multi-sport strategy, particularly regarding future basketball projects.
According to a recent Forbes report, Durant ranked #10 among the world's highest-paid athletes, pocketing $101.4 million. This deal, set to be a game-changer in the world of sports, underlines Durant's daring ambition and his commitment to innovative and forward-thinking ventures.
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Durant's investment in Paris Saint-Germain signals a shift in his business endeavors beyond the realm of basketball, as he explores new opportunities in soccer. With his expertise in the NBA, Durant is poised to collaborate on commercial, investment, and content production projects that could potentially include basketball ventures in Europe. This strategic move supplements PSG's efforts at global expansion, particularly in the United States.
