Kevin Durant Ventures into Football Ownership with PSG Stake

NBA superstar Kevin Durant has ventured into the world of football by acquiring a minority stake in the esteemed French club, Paris St Germain. The Champions League winners announced the development on Friday, highlighting Durant's potential influence on their planned expansion into basketball.

The Phoenix Suns forward and two-time NBA champion has formed a strategic partnership with PSG's majority shareholder, Qatar Sports Investments (QSI), through his company Boardroom. Durant expressed his enthusiasm about becoming a shareholder in the club and partnering with QSI to explore new investment avenues, including the realm of basketball.

Durant's involvement is expected to accelerate PSG's strategy for diversification and international growth, particularly in the U.S. market. Furthermore, PSG is reportedly in early-stage talks with the NBA, aiming to invest in a new basketball league in Europe, with Durant's expertise considered a valuable asset for future projects.

(With inputs from agencies.)