Kevin Durant has become the latest American sports star to invest in European soccer.
On Monday, The Athletic reported that the two-time NBA champion and Phoenix Suns forward had bought a minority share of French soccer giants Paris Saint-Germain. According to sources with knowledge of the agreement — who, like all spoken to for this piece, were granted anonymity to protect relationships — Durant’s investment firm Boardroom has bought a shareholding through a separate financial vehicle created by Arctos Sports Partners, which has invested in PSG.
Durant was in Paris for the Olympic Games, where he secured his fourth gold medal. Last week, while competing at the competition, Durant and Rich Kleiman, who is the co-founder of Boardroom and Durant’s manager, visited PSG’s new training centre at Poissy, west of Paris. They met with PSG president Nasser Al-Khelaifi. According to sources with knowledge of his visit, the two sides “presented” to each other regarding the agreement.
So what does this agreement mean and how did it come about? The Athletic has the rundown.
First, who are PSG and what is Boardroom?
Paris Saint-Germain are one of the leading football clubs in both the men’s and women’s game in Europe. Their men’s team are the most successful football club…
