NBA great Kevin Durant was already involved with Paris Saint-Germain via Arctos. But his collaboration with PSG took another step forward on Friday. The club officially announced that the famous basketball player is now a minority shareholder. And this with real missions to carry out for the club’s development.
“Qatar Sports Investments (QSI), majority shareholder of reigning European champions Paris Saint-Germain, has signed an investment and strategic partnership agreement with Kevin Durant, American basketball legend and leading investor in the world of sports and entertainment.
Under the terms of the partnership, Durant – via his media and investment company Boardroom, co-founded with long-time partner Rich Kleiman – will acquire a direct minority stake in the Club.”
As part of the partnership, Boardroom and Qatar Sports Investments will join forces on a wide range of commercial, investment and content production initiatives.
Durant will also accompany the Club in its diversification and growth strategy on both sporting and commercial fronts – including the co-development of merchandise and original media content; developing the Club’s strategy in the US and other international markets; supporting PSG for Communities (the Club’s charitable foundation and fundraising arm); and providing expertise on Paris Saint-Germain’s multi-sport strategy, particularly regarding future projects in basketball.”
It’s a huge step forward for PSG, which continues to establish itself as a major world club and even an important sporting brand. It also reinforces the idea of a development in basketball.
The Parisian club continues to move forward, and strikes a blow here by teaming up with an immense sportsman. We can only hope that Paris will continue to strengthen its image (and therefore its revenues) in order to build a lasting place among the world’s elite.
In any case, we’re delighted to welcome Kevin Durant, and hope that this investment will be a success. There’s every reason to think so.
As part of the partnership, Boardroom and Qatar Sports Investments will join forces on a wide range of commercial, investment and content production initiatives.
Durant will also support the Club in its strategy of diversification and growth on both sporting and commercial fronts – including the co-development of merchandise and media content.
