Paris Saint-Germain (PSG) announced on Tuesday (8/13/2024) that NBA star Kevin Durant has joined as a new minority shareholder of the club. According to ESPN sources, Durant, who recently won an Olympic gold medal with Team USA at the 2024 Olympics, has invested several million dollars of his own money to join the club.
The club, which is primarily owned by Qatari Sports Investors (QSI), allowed American investment at the end of last year. Durant’s investment was made through Arctos Sports Partners, an American investment company that bought a 12.5 percent stake in PSG in 2023, with PSG’s value reaching 4.6 billion US dollars. Durant’s presence at the club is intended to further develop PSG’s brand in the United States from a marketing and sponsorship perspective, especially ahead of the 2025 Club World Cup and 2026 World Cup which will take place in America in the next two summers.
Durant, who is 35 years old and currently plays for the Phoenix Suns isn’t havig his first investment in sports. He is an avid soccer fan and is a co-owner of MLS club Philadelphia Union. Durant also is a minority owner of reigning NWSL champions Gotham.
He is a close friend of PSG president Nasser Al Khelaifi and has visited the Paris training ground and Parc des Princes stadium several times before the investment. On August 6, Durant visited Campus PSG to greet several players, staff and head coach Luis Enrique.
The Suns’ forward expressed his admiration for the Parisian facilities after visiting the club’s new training ground earlier this week in a club-sponsored video, saying “this is lovely. I’m grateful to be here.”
According to sources quoted by ESPN, Durant is very excited to be involved with the club and is very serious about his investment in PSG. His presence at PSG is expected to expand the club’s global reach and increase the club’s popularity in the United States market, along with the upcoming big international soccer agenda.
In additon, PSG have multiple sports teams beyond men’s and women’s soccer, including handball, judo and esports, although they do not yet have a basketball side.
