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Durant's PSG stake explained: Why has he bought in? Does he have a say?

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4 weeks ago

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Durant's PSG stake explained: Why has he bought in? Does he have a say?

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 in France. They have won 12 domestic league titles, more than any other team, and they are the reigning champions.

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PSG became a dominant force after Qatar Sports Investments, a Qatari state-funded investment vehicle, bought the club for €70million in 2011. Since then, they have won 32 trophies and signed international star players including Lionel Messi, Kylian Mbappe, Neymar and Zlatan Ibrahimovic. They have also developed an increasingly prominent global brand, with more than 200 million followers on social media. According to Deloitte’s Football Money League, they received the third-most commercial revenue of any football club in Europe in the 2022-23 season. PSG also have multiple sports teams beyond men’s and women’s soccer, including handball, judo and esports.


PSG previously had Messi, Neymar and Mbappe on the books (Franck Fife/AFP via Getty Images)

Boardroom, meanwhile, is a sports, media and entertainment brand co-founded by Durant and Kleiman. It is the sister company to Boardroom Sports Holding LLC, which features investments in multiple emerging sports teams and leagues, including PSG. 

Durant needs little introduction. The 35-year-old is regarded as one of the greatest basketball players of all time. He is a 14-time All-Star and his gold medal collection is now a record for men’s basketball. He is also the leading U.S. scorer in Olympic competition for either men or women. He will enter his 17th NBA season this year with the Phoenix Suns.

So does Durant have a say at PSG?

Durant has become a minority shareholder through Boardroom Sports Holdings LLC, but he has not invested directly. He has bought a stake in the Arctos Sports Partners fund that has invested in PSG. Arctos, a U.S.-based private investment firm, bought 12.5 per cent of Paris Saint-Germain last year, which at the time was valued at €4.25billion (£3.64bn, $4.58bn). 

The amount of Durant’s stake is undisclosed, but sources close to the deal have told The Athletic that, in U.S. dollars, it is in “single-digit millions”.

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This is not the first time Durant has invested in sports. He bought a five per cent ownership stake in MLS side Philadelphia Union in 2020, with an option to purchase an additional five per cent, while in 2022 he became a minority owner of NY/NJ Gotham National Women’s Soccer League franchise. He is also a co-owner of the Brooklyn Aces in Major League Pickleball, among multiple other investments with his manager Kleiman, who is a co-founder of Boardroom, sister company to Durant’s investment arm Thirty Five Ventures.

Why has he invested in PSG?

This is the start of what is expected to be a broader collaboration between Boardroom and PSG, covering areas including “content and strategy”. PSG are known to be exploring a variety of collaborations to enhance and develop their brand. They want to enhance their status and footprint in the United States, with the Club World Cup in 2025 and the World Cup in 2026 both on the horizon.

PSG sources say they hope Durant will bring a multi-sport and U.S. market perspective to the club and its brand. The club see this as the start of a relationship that has now been formalised financially. They expect, through Arctos, that Durant will have a voice in the business’s development and the club want to broaden those influences beyond just majority shareholder QSI. 


Durant won Olympic Gold in Paris (Paul Ellis/AFP via Getty Images)

One source with knowledge of Durant’s visit to PSG said the NBA star underlined the attractiveness of the club and brand, noting the club’s unique positioning on culture and community, while also expressing a commitment to the future of women’s sports.

What have both sides said?

PSG have not said anything formally on the matter since news broke of Durant’s investment, but speaking after Durant visited the club’s €300million training centre last week, where the NBA star met the men’s first team head coach Luis Enrique and consultant sporting advisor Luis Campos among others, club president Nasser Al-Khelaifi said: “It was an honour to welcome Kevin Durant to the campus today and to witness his passion for Paris Saint-Germain and his recognition of the excellent sports facilities at our new PSG Campus training centre.

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“Kevin is an inspirational athlete, investor and all-round role model, both on and off the pitch. We are extremely proud of his connection to the Paris Saint-Germain family as we share the same values and vision. We look forward to strengthening our ties and working together with Kevin and Boardroom to bring the best in sport and entertainment to fans around the world.”

On Monday, Boardroom said in a post shared on social media: “Earlier this month, Paris Saint-Germain president Nasser Al-Khelaifi welcomed Durant and his long-time business partner, entrepreneur Rich Kleiman, to the Paris Saint-Germain Campus to kick off the partnership with a visit to the club’s state-of-the-art training facility and education centre.⁠ ⁠They witnessed first-hand how the club’s values of innovation and excellence are embodied in this new environment, where Paris Saint-Germain is nurturing the stars of tomorrow.

“They also spent time with Paris Saint-Germain’s professional football teams, with a particular focus on the women’s and youth academy teams — areas of strong interest for him both in terms of sport and investment.⁠ Durant and Kleiman’s sports and entertainment media network Boardroom will work with Paris Saint-Germain to develop a multi-faceted collaboration that spans content and strategy.”

Arctos has been approached for comment.

Is he the first U.S. star to invest in soccer?

Durant follows a well-trodden path of American sports stars and other famous faces investing in soccer clubs in Europe. LeBron James became a minority shareholder at Liverpool in 2011, but since then, more have followed. Last year, in England, former NFL star JJ Watt and his wife Kealia, an ex-USWNT player, bought a stake in Burnley, Tom Brady did similar at Birmingham City, while Leeds United can count on Atlanta Hawks forward/centre Larry Nance Jr — as well as Russell Crowe, Dustin Hoffman, Will Ferrell, Jordan Spieth and Russell Westbrook — as co-owners.

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“Many are attracted by the passion fans have for football here — I don’t think they see the same passion for teams in the U.S.,” Andrew Umbers, a partner at Oakwell Sports Advisory, a London-based strategic and financial advisor in the sports sector, told The Athletic last month.


JJ Watt owns a stake in Burnley (James Gill/Getty Images)

“It is also an opportunity to grow their personal brands outside the U.S. and the same thing works in reverse.

“If you can bring in an American superstar like LeBron James or Tom Brady, who can give you massive reach in the U.S. for a small amount of equity, why wouldn’t you?”

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Why are U.S. athletes buying stakes in English football clubs?

Is this PSG’s first link-up with basketball?

PSG are currently partnered with Michael Jordan’s brand, Jordan, an agreement that is now in its sixth year. That collaboration has proven to be transformative for the club and its brand, enabling it to expand globally. “It’s the one thing that gets talked about the most, everywhere we go in the world,” said Marc Armstrong, PSG’s chief revenue officer, told The Athletic in December.

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Basketball is one of the most commonly played sports in France. While PSG do not have a basketball team, sources have not ruled out the possibility of establishing a PSG basketball side in the future.

A major focus for the club in the short term will be on the construction of their new stadium, which is anticipated to be a multi-sport and multi-purpose venue. PSG’s revenues are constrained by low television rights deals in France and the limited capacity of their ground, the Parc des Princes. The stadium is seen as a way to further grow the club, which is a key focus of new investors Arctos.

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How Michael Jordan helped make brand Paris Saint-Germain cool

(Top photos: Getty Images)

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Culture

Do You Know These Sports Books That Became Movies?

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7 hours ago

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September 9, 2024

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Do You Know These Sports Books That Became Movies?

Welcome to Great Adaptations, the Book Review’s regular multiple-choice quiz about books that have gone on to find new life as movies, television shows, theatrical productions, video games and more. This week’s challenge is focused on sports books that have been adapted into films within the past 25 years.

Just tap or click your answers to the five questions below. And scroll down after you finish the last question for links to the books and their movie adaptations.

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Cardinals’ DeeJay Dallas scores first kickoff return touchdown of 2024 season under new format

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14 hours ago

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September 9, 2024

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Cardinals’ DeeJay Dallas scores first kickoff return touchdown of 2024 season under new format

The NFL saw a record-low 22 percent of kickoffs returned last season, and only four of those were returned for scores. The NFL introduced significant changes to its kickoff rules for the 2024 season to boost the incentive for more players to return kickoffs — while limiting touchbacks and injuries.

In Week 1 of the new kickoff format, Cardinals returner DeeJay Dallas ignited the comeback with a thrilling 96-yard kickoff return for a touchdown.

Slicing through three tackles at the 40-yard line, he dashed toward the end zone, diving past kicker Tyler Bass to score. The Bills, leading 31-20 with 8:44 left, regretted kicking deep. The Cardinals then capitalized with a successful two-point conversion by James Conner, narrowing the gap to 31-28.

The touchdown marked Dallas’ first career kickoff return in his NFL  and collegiate careers, although he has return experience, having returned kicks in all three of his seasons in the league.

Although the new rule had a slow start, the first Sunday of the NFL season still delivered excitement with three kickoff returns exceeding 50 yards. In 2023, there were only 10 returns of 50 yards or more.

The Bills held on to their lead to start the season 1-0 as they beat the Cardinals 34-28. Buffalo will face AFC East rival Miami on the road during Week 2 of “Thursday Night Football.”

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(Photo: Brooke Sutton / Getty Images)

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Mandel’s Final Thoughts: Georgia, Ohio State and Texas at the top. After that, guess again

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21 hours ago

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September 9, 2024

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Mandel’s Final Thoughts: Georgia, Ohio State and Texas at the top. After that, guess again

And now, 18 thoughts on an early September Saturday that dared AP voters to just blow up their ballots and start over.

1. Two weeks in, I feel confident that Georgia, Ohio State and Texas are the correct top three teams. After that, I’d be guessing just the same as you. A lot of highly ranked teams had close calls against inferior opponents. And one top-five team flat-out lost at home to NIU as a 28-point favorite.

2. This was supposed to be the year Marcus Freeman led Notre Dame back to national title contention, not to yet another Week 2 home loss to a Group of 5 opponent. (2022 Marshall, meet 2024 NIU.) He already had a stacked, veteran defense before landing renowned offensive coordinator Mike Denbrock from LSU and transfer quarterback Riley Leonard from Duke. But on Saturday, Leonard went just 20 of 32 for 163 yards and two interceptions against a MAC opponent. NIU took advantage of that second pick to sit on the ball for five minutes before hitting a last-minute field goal to stun the Irish 16-14.

From Day 1, Freeman has been unofficially auditioning for the job he already landed, at age 35, after Brian Kelly bolted. After a rough Year 1, he was trending in the right direction. But Saturday was an absolute confidence crusher that sapped all the momentum from Notre Dame’s season-opening win at Texas A&M. If anything, it brought back questions long ago assumed buried about the state of Freeman’s program. Yes, Notre Dame can still reach the 12-team Playoff, but only if Saturday’s game proves to be a complete fluke.

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3. A team like NIU will never experience a national title but winning at Notre Dame Stadium as a huge underdog surely feels as sweet. The Huskies coach, Thomas Hammock, himself a former NIU star running back, was sobbing during his NBC postgame interview. The program has had its moments over the last two decades, most notably the Jordan Lynch era circa 2012-13, but this was by far its biggest win. I would not have suggested before the season that the MAC could produce the G5’s CFP rep, but I can’t imagine another G5 team will earn a more significant nonconference win.

4. No. 10 Michigan came out Saturday against No. 3 Texas wearing the same uniforms and playing in the same stadium as the 2023 national champions — but that’s where the resemblances ended. The Longhorns’ 31-12 rout at the Big House confirmed the most dire concerns about the Wolverines’ depleted offense. Much more stunning was the ease with which Texas quarterback Quinn Ewers (24 of 36, 246 yards, three TDs, no INTs) shredded a Michigan defense that still boasts star power.

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The Horns controlled the line of scrimmage, and Steve Sarkisian was his usual masterful self in scheming guys open, most notably tight end Gunnar Helm (seven catches, 98 yards). It should be a nice confidence boost for Texas as it embarks on its first-ever SEC schedule.

5. New Wolverines head coach Sherrone Moore, who took over when Jim Harbaugh left for the Chargers, succeeded in keeping the defending champs’ roster together, but he didn’t do much to upgrade it either. I was surprised last spring when he did not bring in a transfer quarterback to compete for the starting job. Two games in, I’m bewildered by it. Davis Warren seems like a serviceable backup who’s been thrust into the starting job, which does not speak well for the guy he beat out, Alex Orji. We’ll see if Moore gives Orji more reps next week against Arkansas State.

6. Nebraska’s 28-10 rout of old rival Colorado was exactly the kind of party long-suffering Huskers fans have been thirsting for. Five-star freshman quarterback Dylan Raiola looked the part (23 of 30, 185 yards, 1 TD, no INTs), and Matt Rhule’s second team looked faster on offense and fiercer on defense. For Deion and Shedeur Sanders, on the other hand, it was a depressingly familiar plot. Colorado gave up six sacks and ran for just 16 yards, leaving Shedeur Sanders (23 of 38, 244 yards, 1 TD, 1 INT) and Travis Hunter (10 catches, 110 yards) to play their own game of catch after the outcome was long decided.

The Buffs defense has improved from 2023, but there remains a considerable gap between their offensive skill talent and their offensive line. Maybe AFLAC can help close it.

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Stewart Mandel’s 12-team Playoff projections after Week 2

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7. The best player in the country so far has been Boise State running back Ashton Jeanty, who followed up a 267-yard, six-touchdown clinic at Georgia Southern by running for another 192 yards and three TDs against No. 7 Oregon. It wasn’t quite enough to top the Ducks, who won 37-34 on a last-second field goal, thanks in large part to an 85-yard Tez Johnson punt-return touchdown and 100-yard Noah Whittington kick-return TD.

Without those, Oregon might have been in trouble, as its normally explosive offense is not clicking. Following key losses on the inside of their offensive line, the Ducks through two games have already allowed seven sacks. That’s two more than they gave up in either the 2022 or 2023 seasons.

8. On the night Alabama dedicated Nick Saban Field at Bryant-Denny Stadium, the Tide’s offense gave a performance that would have frustrated their former coach to no end. Fourth-ranked Alabama scored on just two of its first 11 possessions against pesky USF and led just 21-16 with 6:45 left before exploding for back-to-back-to-back long touchdowns to win with a deceiving final score of 42-16. Kalen DeBoer’s team is not lacking for weapons, such as running back Jam Miller (15 carries, 140 yards) and freshman receiver Ryan Williams (four catches, 68 yards), but on this night, the Tide’s offensive line brought back troubling memories of its rocky 2023 campaign.

9. Saturday night’s Tennessee-NC State game in Charlotte was shaping up to be Vols quarterback Nico Iamaleava’s coming-out party, but his defense upstaged him. The No. 14 Vols shut down Wolfpack quarterback Grayson McCall, the former Coastal Carolina standout, and held No. 24 NC State to just 143 total yards in a 51-10 blowout. We knew Tennessee had an elite pass-rusher in James Pearce, but nose tackle Omari Thomas and the rest of the Vols’ D-line dominated the Wolfpack. Iamaleava (16 of 23, 211 yards) had his moments as well, but he also threw a pick six that became NC State’s only touchdown.

10. Here’s one I did not see coming: South Carolina, a week removed from eking out a 23-19 home win against Old Dominion, going on the road and suffocating Kentucky in a 31-6 beatdown. The Gamecocks D, led by five-star freshman pass rusher Dylan Stewart, notched five sacks and a pick six of Wildcats quarterback Brock Vandagriff while allowing just 188 total yards.

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In addition to starting 1-0 in SEC play, Shane Beamer’s team, 5-7 last season, messed things up for ESPN’s GameDay. The show was expected to be in Lexington next weekend for Georgia at Kentucky. Now: LSU at South Carolina.

11. Former star quarterback Brock Purdy led Iowa State’s ascent under Matt Campbell a few years ago. Enter Rocco Becht, a sophomore in his second year as the starter. Down 19-7 against rival Iowa’s notoriously salty defense, Becht hit Jaylin Noel for a 75-yard touchdown, then in the final minute, connected with Noel again for a 30-yard gain to set up Kyle Konrady’s game-winning 54-yard field goal. With the 20-19 victory, Campbell has beaten Kirk Ferentz two of the past three years after losing his first five Cy-Hawk games.

12. The Big 12 dodged a pair of upsets in the early window Saturday when No. 16 Oklahoma State, down 21-7 at one point, held off Arkansas 39-31 in double overtime, and No. 17 Kansas State, down 20-10 at halftime, survived 34-27 at Tulane.

The losers of those games will be kicking themselves for some time, though. Offensive coordinator Bobby Petrino’s Razorbacks racked up 648 yards but lost three turnovers and got stopped twice on fourth down. Meanwhile, Tulane redshirt freshman quarterback Darian Mensah put on a show, with four 30-plus-yard completions, and it appeared he’d thrown a tying TD with 17 seconds left. But officials negated it on a non-existent offensive pass interference call. Mensah then threw a dagger interception.

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Perhaps one or both quality wins will end up boosting the Big 12’s at-large chances.

13. Clemson heard all our mockery after last week’s Georgia game and took it out on respected G5 team Appalachian State. Behind a near-perfect performance from quarterback Cade Klubnik (24 of 26, 378 yards, five TDs, no INTs), the Tigers scored 35 points in the first quarter and 56 before halftime in a 66-20 blowout. It served as a friendly reminder that despite losing its opener 34-3, Clemson could well turn around and win the ACC. And also that Georgia remains a holy terror.

14. The offensive wizardry Hugh Freeze showed at Ole Miss and Liberty has yet to make an appearance at Auburn. In the second game of Freeze’s second season, visiting Cal smothered the Tigers passing game, picking off Payton Thorne four times and holding Auburn to 286 total yards in a 21-14 win. Auburn fans will surely call for the head of Thorne, who has never been able to replicate his great 2021 season at Michigan State, but it’s hard to say how much of the problem is him and how much is the Tigers woeful offensive line.

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15. A year ago on this same weekend, Illinois went to Kansas and fell behind 34-7, losing 34-23. So it was a big deal for Bret Bielema’s team to not only win Saturday’s rematch, 23-17, but also to stifle the 19th-ranked Jayhawks veteran offense. Kansas’ star quarterback Jalon Daniels finished just 18 of 32 for 141 yards and threw three picks against the Illini’s defense. Perhaps this means Illinois is poised for another season like 2022 when it won eight games and gave Michigan fits. Or perhaps KU is not yet ready for preseason Top 25s.

16. Last week, Syracuse coach Fran Brown joked that he should send a bottle of champagne to Ohio State’s Ryan Day for letting quarterback Kyle McCord become a free agent. McCord looked even better in his ACC debut, going 32 of 46 for 381 yards, four touchdowns and no picks in a 31-28 home win over Georgia Tech. Brown, formerly Georgia’s defensive backs coach, was fairly unknown before getting the job last winter but earned instant credibility from the fan base when Syracuse became the surprise landing spot for the Buckeyes’ 2023 starter. It looks like the pair will be a factor in their new conference this fall.

17. The realignment gods tried to kick Washington State and Oregon State to the curb, but they’re not exiting quietly. The Cougars throttled Big 12 foe Texas Tech 37-16 in an AfterDark game on Fox, with quarterback John Mateer responsible for 197 of his team’s 301 yards on the ground. Next week brings a mid-September Apple Cup against Washington in Seattle. Meanwhile, the Beavers won 21-0 at San Diego State in advance of a huge grudge match at home next week against the hated Ducks. That one is also on Fox.

The two programs’ futures remain uncertain. For now, they’ve opted against continuing their Mountain West scheduling partnership next season, presumably to schedule more P4 opponents. For one week at least, it will feel like old times on those campuses.

18. Finally, when UAB savior coach Bill Clark had to step down for health reasons before the 2022 season, offensive coordinator Bryant Vincent stepped in as interim head coach and went 7-6. That wasn’t good enough for UAB, which made a big-splash hire with Trent Dilfer, despite his never having coached college football.

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Vincent is now the head coach at Louisiana-Monroe, which on Saturday whooped Dilfer’s Blazers 32-6. Dilfer, the former NFL quarterback and ESPN analyst, has three FBS wins in his first 14 games at UAB.

As always, the splashiest hire is rarely the best hire.

(Photo of Texas quarterback Quinn Ewers celebrating after a touchdown: Gregory Shamus / Getty Images)

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