NBA superstar Kevin Durant has purchased a minority stake in French club Paris Saint-Germain, the Ligue 1 team and Champions League winner announced Friday.
Durant and Qatar Sports Investments, PSG's majority shareholder, signed an investment and strategic partnership agreement, which will see the pair team up on commerical, investment and content initiatives. Financial terms were not shared.
The deal will also see Durant advise “on Paris Saint-Germain’s multi-sport strategy, including potential plans in basketball,” according to the statement. Such a role is quite notable, considering the NBA's talk of expanding into Europe.
"QSI is pleased to welcome Kevin Durant as a direct shareholder in Paris Saint-Germain and strategic partner of our group," QSI Chairman Nasser Al-Khelaifi said in the statement.
"We continually seek to elevate the club and our broader portfolio through high-impact partnerships that bring strategic value, innovation, and global perspective. Together with Kevin, we look forward to developing ambitious initiatives that will drive the continued global growth of Paris Saint-Germain and QSI.”
Added Durant: "It is an honor to partner with QSI and be a shareholder in Paris Saint-Germain—a club and city that is deeply close to my heart."
"This club has big plans and I look forward to being part of the next phase of growth and exploring new investment opportunities with QSI."
Prior to Friday's development, Durant held a "single-digit million shareholding" in PSG via investment vehicle Boardroom Sports Holdings, per The Athletic.
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This article was originally published on www.si.com as Kevin Durant Purchases Minority Stake in Paris Saint-Germain.
