American basketball player Kevin Durant has purchased a minority stake in Paris Saint-Germain football club, the French club announced today.
The club's majority owner, Qatar Sports Investments (QSI), has signed an investment and strategic partnership agreement with Durant, the club said in a statement. Financial details of the deal were not disclosed.
"As part of the partnership, Durant will acquire a direct minority stake in the club through his media and investment company, Boardroom, which he founded with long-time collaborator Rich Kleiman," Paris Saint-Germain said in a statement.
The 36-year-old Phoenix Suns player is a two-time NBA champion and one of the league's all-time leading scorers. Last summer, he became the first basketball player in history to win four Olympic gold medals, when the US team triumphed at the Paris Olympics.
"I am honored to become a partner of QSI and a co-owner of Paris Saint-Germain, a club and city that mean so much to me. This club has big plans and I look forward to being a part of the next phase of its development, as well as exploring new investment opportunities with QSI," Durant said in a club statement.
This announcement comes as the NBA, FIBA and other stakeholders are discussing the possibility of forming a new league in Europe.
As part of the deal, Boardroom Sports Holdings, Durant's personal investment company that already has stakes in numerous sports clubs and leagues, and QSI will join forces on a wide range of commercial, investment and production projects.
The club said Durant will support PSG's expansion strategy, as well as brand development in the United States and other international markets. He will also provide expert support regarding the club's multi-sport strategy, including future plans in basketball.
"Together with Kevin, we look forward to developing ambitious initiatives that will further fuel the global growth of Paris Saint-Germain and QSI," said club president Nasser Al-Khelaifi.
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