NBA legend Kevin Durant is currently in Italy for business purposes. According to The Athletic, the two-time NBA champion has expanded his alliance with Qatar Sports Investments (QSI) by acquiring a direct minority investment in Paris Saint-Germain (PSG). As per a statement issued by the team, K.D and Qatar Sports Investments, the biggest shareholder of the club, signed an investment and strategic partnership agreement. However, the terms of the deal were not disclosed.
Kevin Durant strengthens ties with Qatar Sports Investments through PSG minority stake
NBA legend Kevin Durant has used his off-court activities to shift attention to himself. According to the reputable media outlet The Athletic, after purchasing a direct minority ownership in the French soccer team Paris Saint-Germain, the Phoenix Suns power forward proceeded to deepen his relationship with Qatar Sports Investments. Meanwhile, the announcement coincides with discussions between the FIBA and NBA on the establishment of a new league in Europe. Additionally, it has already caused a stir in the international basketball community. PSG’s official statement further read: “Under the terms of the partnership, Durant — via his media and investment company Boardroom, co-founded with longtime business partner Rich Kleiman — will acquire a direct minority stake in the club.” Kevin Durant will also act as a strategic advisor for PSG’s multisport goals, including a possible basketball relocation, through his media and investment company, Boardroom. His participation puts him at the center of talks about starting a Paris team that might compete in the EuroLeague or alongside it.On the other hand, PSG president Nasser Al Khelaifi further said: “Together with Kevin, we look forward to developing ambitious initiatives that will drive the continued global growth of Paris Saint-Germain and QSI.”
Kevin Durant is set to advise PSG on global growth and future basketball ambitions
According to the information given by Kevin Durant’s media and investment company, he would be serving as a crucial strategic advisor for Paris Saint-Germain’s overall growth. Announcing the same, the four-time gold medalist said that he was thrilled about his new position and collaboration with the QSI. He stated: “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. PSG already operates in soccer, handball, and judo, but its basketball vision could be the next frontier. Durant’s influence, from branding to arena planning, makes him a key figure in shaping basketball’s European future.”
Kevin Durant is an NBA legend (Image via Instagram / @easymoneysniper)
He further said:“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.”Additionally, Durant will help the team’s growth and diversification strategy, as well as its expansion in the United States and other foreign markets. Moreover, he will also provide his insight into the multi-port strategy of the club, including its future basketball ambitions.The declaration comes at a time when there are negotiations on how to form a new league in Europe among the NBA, FIBA, and other bodies.Also read: How much did Kevin Durant pay for his Oklahoma City home? NBA legend’s property grabs attention with shocking listing