After winning his record-breaking fourth Olympic gold medal in Paris, it’s time for Kevin Durant to make good use of the remainder of his trip to Paris to get his investments in line. The 35-year-old played a crucial role for Team USA at the Paris Olympics. Now the Phoenix Suns center might be looking to tie a long-standing knot with the city of Paris.
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After conquering Olympic basketball, KD paid a visit to the French soccer club PSG’s newest training facility and spent time with the athletes and the management. This wasn’t merely a fun visit as Durant is going to be a minority owner in the French club that’s valued at $4.21 billion by Forbes.
When the two-time NBA Champion was asked what makes Paris a special place for him, KD said, “Just the history. The love for the sport. The love for art in general. The people make it what it is. I get so much love every time I come here, they appreciate the sport.”
Fabrizio Romano reported earlier today, “Kevin Durant, about to become a new minority stakeholder at Paris Saint-Germain!”
Romano stated that the decision has been finalized, per a report by Romain Molina. Although KD didn’t mention anything about his new business move during his visit to the PSG training facility, he did meet with PSG President Nasser Al-Khelaifi.
🔴🔵🏀 Kevin Durant, about to become a new minority stakeholder at Paris Saint-Germain!
Decision made as @Romain_Molina reported. pic.twitter.com/1BcNd1q0iN
— Fabrizio Romano (@FabrizioRomano) August 12, 2024
Al-Khelaifi is also the chairman of Qatar Sports Investments, which owns 87.5% of the club. The QSI has been the majority owner of PSG since 2011 and now, in a move to attract the USA audience, they’re branching out with KD’s investment. The NBA superstar also had a lengthy discussion with PSG coach Luis Enrique during his visit and met several PSG players as well.
NBA players and sports team ownership
In recent years, a couple of markets have become the center of attraction for American celebrities to put their money in. The alcohol industry and the business of sports has attracted most celebrities, including athletes. Several NBA athletes are part owners of numerous teams from different sports.
The PSG investment isn’t going to be KD’s first rodeo in the industry because he is already part owner of the MLS team Philadelphia Union, where he owns a 5% stake. Similarly, James Harden is also a part owner in MLS with his investment in the Houston Dynamo. LeBron James owns 2% of Premier League’s Liverpool Football Club.
The most diverse portfolio among NBA superstars belongs to Magic Johnson. The Lakers legend owns stakes in Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA), Los Angeles FC (MLS) and the Washington Commanders (NFL).
