PARIS — NBA star Kevin Durant has purchased a minority stake in Champions League winner Paris Saint-Germain, the French soccer club said Friday.
Qatar Sports Investments, PSG's majority shareholder, signed an investment and strategic partnership agreement with Durant, the club said in a statement. Financial terms were not disclosed.
The announcement comes amid talks between the NBA, FIBA and other entities about the potential of adding a new league in Europe.
Durant will provide expertise on the PSG's multi-port strategy, including potential expansion into basketball, the club said.
''Under the terms of the partnership, Durant — via his media and investment company Boardroom, co-founded with long-time business partner Rich Kleiman — will acquire a direct minority stake in the club,'' PSG's statement said.
The Phoenix Suns forward is a two-time NBA champion and became the first four-time men's gold medalist in Olympic basketball history when the U.S. took gold at last summer's Paris Games.
''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," the 36-year-old Durant said in comments provided by PSG. ''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.''
As part of the deal, Boardroom Sports Holdings — Durant's personal investment vehicle, which holds stakes in a number of major sports teams and leagues — and QSI will join forces on a wide range of commercial, investment and content production initiatives.
