Football: Paris Saint-Germain FC and expansion into Basketball
By Prof Dr Ian Blackshaw
It has been announced that NBA champion and four-times Olympic gold medallist, Kevin Durant, former power forward for the Phoenix Suns and set to join the Houston Rockets, has bought a minority stake in Paris St-Germain FC (PSG), who spectacularly won this year’s European Men’s Champions League.
Durant, who is one of the world’s highest-paid athletes, has signed, through Boardroom, his media and investment company, a strategic partnership agreement with Qatar Sports Investments (QSI), the majority owners of PSG, and will provide expertise during the planned expansion of PSG into the European Basketball League.
Durant remarked that:
"It is an honour to partner with QSI and to be a shareholder of PSG, a club and a city that is deeply close to my heart."
And added that:
"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."
PSG stated that Durant will “support the club on its continued sports and business diversification and growth.”
QSI acquired PSG in 2011, and it is claimed that their investment in the club has helped them to win 11 Ligue 1 and their first Champions League titles.
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