Kevin Durant to Purchase Minority Stake in French Soccer Club PSG
Kevin Durant is poised to leave the 2024 Paris Olympic Games not just as a gold medalist in men's basketball but also as a part-owner of a prestigious European soccer club. Reports indicate that the Phoenix Suns and Team USA superstar is finalizing a deal to acquire a minority stake in Paris Saint-Germain (PSG), one of France's premier soccer clubs. An official announcement regarding the acquisition is expected in the coming days.
PSG is the most prominent soccer club in France's top division, having secured the Ligue 1 championship title 10 times since the 2012-13 season, including victories in each of the last three seasons. The club is also a consistent competitor in the UEFA Champions League. PSG has been under the ownership of Qatar Sports Investments since 2011 and was valued at approximately £4.5 billion ($5.7 billion) in 2023, following a deal in which Arctos Partners acquired a 12.5% stake in the organization.
Durant's investment aligns with a growing trend among American athletes purchasing ownership stakes in European soccer teams. Notable examples include Los Angeles Lakers forward LeBron James, who owns a minority stake in Liverpool F.C., and former NFL players J.J. Watt and Tom Brady, who have acquired minority stakes in Burnley F.C. and Birmingham City F.C., respectively.
Durant's time in Paris will likely be memorable, not only for contributing to the United States securing its fifth consecutive gold medal in men's basketball but also for his anticipated role as a part-owner of France's largest soccer club.
