US Edition
Kevin Durant Buys Minority Stake in Paris Saint-Germain, Will Advise Club on Basketball Expansion
- On Friday, Kevin Durant, a 36-year-old two-time NBA champion and Phoenix Suns forward, purchased a minority stake in Paris Saint-Germain, a Ligue 1 and Champions League-winning soccer club.
- Durant's investment follows his previous 5% stake in MLS's Philadelphia Union from 2020 and his exit from a prior indirect PSG stake held via private equity firm Arctos in December 2023.
- Durant secured a stake in PSG through Boardroom, his personal investment and media firm, forming a strategic alliance with Qatar Sports Investments, the club’s majority owner, to collaborate on commercial ventures, content creation, and investment projects.
- Durant expressed his excitement about joining QSI as an investor in Paris Saint-Germain, a team and city he holds dear, while PSG intends to utilize his knowledge to expand its presence across multiple sports, including basketball.
- This partnership signals PSG's intent to expand globally and diversify their sports portfolio, potentially launching basketball initiatives as the NBA explores European expansion, with Durant consulting on these efforts.
Insights by Ground AI
Does this summary seem wrong?
50 Articles
50 Articles
All
Left
15
Center
13
Right
1
Sports Fans Had Same Joke About Kevin Durant's Expensive Purchase
Here’s A Look Inside LeBron James’ Los Angeles Mansion (1:14) Phoenix Suns superstar Kevin Durant has made a lot of money over his career and has been investing his money substantially. His latest big buy might be both an investment and a hobby though.On Friday, The Athletic reported that Durant has partnered with Qatar Sports Investments (QSI) to become an investment partner in the Paris Saint-Germain FC team. PSG just won the UEFA Champions Le…
·Los Angeles, United States
Read Full Article
Paris Saint-Germain announced on Friday that the player of the North American Basketball League has acquired a minority stake in the capital of the club.
·Paris, France
Read Full Article
Coverage Details
Total News Sources50
Leaning Left15Leaning Right1Center13Last UpdatedBias Distribution52% Left
Bias Distribution
- 52% of the sources lean Left
52% Left
L 52%
C 45%
Factuality
To view factuality data please Upgrade to Premium
