financetom
Business
financetom
/
Business
/
Soccer-NBA star Durant invests in PSG as French club plan basketball future
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Soccer-NBA star Durant invests in PSG as French club plan basketball future
Jun 20, 2025 11:32 AM

(Reuters) -NBA star Kevin Durant has purchased a minority stake in French soccer club Paris St Germain, the Champions League winners said on Friday, and the Phoenix Suns forward will provide expertise on their planned expansion into basketball.

Durant, two-time NBA champion and four-time Olympic gold medallist, has signed a share purchase and strategic partnership agreement with PSG's majority shareholder Qatar Sports Investments (QSI), through his company Boardroom.

"It is an honour to partner with QSI and to be a shareholder of Paris St Germain, a club and a city that is deeply close to my heart," Durant, who won gold at the Paris Olympics last year, said.

"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."

One of those opportunities is likely to come in the world of basketball, with PSG already involved in early-stage talks with the NBA regarding potential investment and venues for a new basketball league in Europe.

Durant, who had already forged a link with PSG through the club's minority shareholder Arctos Partners, will partner on a wide range of commercial, investment and content production initiatives.

The 36-year-old will also support the club in its strategy of diversification and growth on sporting and commercial fronts, including developing the club's strategy in the United States and other international markets.

PSG said in their release that Durant would provide "expertise on PSG's multi-sport strategy, particularly regarding future projects in the field of basketball".

Durant was recently included in Forbes' 2025 list of the world's highest-paid athletes, coming in at number 10 with earnings of $101.4 million.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Urban Edge Properties Q3 Adjusted Funds From Operations, Revenue Rise
Urban Edge Properties Q3 Adjusted Funds From Operations, Revenue Rise
Oct 29, 2025
08:19 AM EDT, 10/29/2025 (MT Newswires) -- Urban Edge Properties ( UE ) reported Q3 adjusted funds from operations Wednesday of $0.36 per share, up from $0.35 a year earlier. Five analysts surveyed by FactSet expected $0.36. Total revenue for the quarter ended Sept. 30 was $120.1 million, up from $112.4 million a year earlier. Three analysts polled by FactSet...
Donnelley Financial Solutions Q3 Adjusted Earnings Rise, Net Sales Fall; Q4 Net Sales Outlook Issued
Donnelley Financial Solutions Q3 Adjusted Earnings Rise, Net Sales Fall; Q4 Net Sales Outlook Issued
Oct 29, 2025
08:20 AM EDT, 10/29/2025 (MT Newswires) -- Donnelley Financial Solutions ( DFIN ) reported Q3 adjusted earnings Wednesday of $0.86 per diluted share, up from $0.48 a year earlier. Three analysts polled by FactSet expected $0.57. Net sales for the quarter ended Sept. 30 were $175.3 million, down from $179.5 million a year earlier. Three analysts surveyed by FactSet expected...
Gates Industrial Fiscal Q3 Adjusted Net Income, Sales Rise; 2025 Adjusted EPS Guidance Updated
Gates Industrial Fiscal Q3 Adjusted Net Income, Sales Rise; 2025 Adjusted EPS Guidance Updated
Oct 29, 2025
08:20 AM EDT, 10/29/2025 (MT Newswires) -- Gates Industrial ( GTES ) reported fiscal Q3 adjusted net income Wednesday of $0.39 per diluted share, up from $0.33 a year earlier. Analysts polled by FactSet expected $0.37. Net sales for the quarter ended Sept. 27 were $855.7 million, compared with $830.7 million a year earlier. Analysts surveyed by FactSet expected $861.4...
United Microelectronics' Q3 Net Income Rises, Operating Revenue Drops
United Microelectronics' Q3 Net Income Rises, Operating Revenue Drops
Oct 29, 2025
08:17 AM EDT, 10/29/2025 (MT Newswires) -- United Microelectronics ( UMC ) reported Q3 net income Wednesday of NT$1.19 ($0.04) per diluted share, up from NT$1.15 a year earlier. Analysts polled by FactSet expected NT$3.92. Operating revenue for the quarter ended Sept. 30 was NT$59.13 billion, down from NT$60.49 billion a year earlier. Analysts surveyed by FactSet expected NT$59.57 billion....
Copyright 2023-2025 - www.financetom.com All Rights Reserved