NBA star Durant takes minority PSG stake / Photo: © AFP
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NYSE - LSE
NBA star Durant takes minority PSG stake
Basketball star Kevin Durant has taken a minority stake in Paris Saint-Germain, the European champions announced Friday, without saying how many shares the power forward had acquired.
The club said in a statement that owners Qatar Sports Investment (QSI) had "signed an investment and strategic partnership agreement with Kevin Durant, one of the most decorated US basketball players of all time and a leading investor in sports and entertainment properties."
It said Durant would acquire the stake "via his media and investment arm Boardroom".
The club said QSI would cooperate with Boardroom "on a wide-series of commercial, investment, and content initiatives" including merchandise, media content US and international strategy and "potential Basketball/Multi-Sport expansion."
"With Kevin, we look forward to developing ambitious initiatives that will drive the continued global growth of Paris Saint-Germain and QSI," said Nasser Al-Khelaifi, Chairman of QSI.
Durant, 36, is a power forward with the Phoenix Suns. He won two NBA titles with the Golden State Warriors and has four Olympic gold medals, the last from the 2024 Paris Games.
He said in the PSG statement that PSG and Paris were "a Club and a city that is so close to my heart. This club has big plans ahead, and I can't wait to be a part of the next phase of growth."
W.Lapointe--BTB