https://arab.news/53p2d
- The collaborations will focus on merchandise, media content, community programs and potential basketball expansion
PARIS: Qatar Sports Investments, majority owner of UEFA Champions League winners Paris Saint-Germain, has signed an investment and strategic partnership agreement with Kevin Durant, one of the US’s most decorated basketball players and a leading investor in sports and entertainment properties.
The deal will see Durant, via his media and investment arm Boardroom with entrepreneur and long-time business partner Rich Kleiman, acquire a direct minority stake in the football club. The share purchase and strategic partnership agreement were signed earlier this week.
In August 2024, Durant — the two-time National Basketball Association champion, four-time Olympic gold medalist, Most Valued Player and 15-time NBA All-Star — partnered with Paris Saint-Germain through Arctos Partners, a minority shareholder in the club.
Durant said: “It is an honor to partner with QSI and be a shareholder in Paris Saint-Germain — a club and a city that is so close to my heart. This club has big plans ahead, and I can’t wait to be a part of the next phase of growth, and to explore new investment opportunities with QSI.”
As part of the relationship, Boardroom and Qatar Sports Investments will partner on a variety of commercial, investment and content initiatives. Durant will also support the club in its diversification and growth, including co-developing merchandise and original media content, advising on US and international market strategy, supporting PSG for Communities — the club’s charitable foundation and fundraising arm — and consulting on PSG’s multi-sport strategy including potential plans for basketball.
Nasser Al-Khelaifi, chairman of QSI, said: “QSI is pleased to welcome Kevin Durant as a direct shareholder in Paris Saint-Germain and strategic partner of our group. We continually seek to elevate the club and our broader portfolio through high-impact partnerships that bring strategic value, innovation and global perspective. Together with Kevin, we look forward to developing ambitious initiatives that will drive the continued global growth of Paris Saint-Germain and QSI.”