NBA superstar Kevin Durant partners with QSI and European champions Paris Saint-German
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.
For the latest updates, follow us @ArabNewsSport
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.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Arabiya
2 hours ago
- Al Arabiya
Germany to hire 11,000 more military personnel this year: Report
The German government will provide funds for an extra 11,000 military personnel by the end of the year, an increase of around 4 percent, tabloid Bild reported on Saturday, citing government sources. The money will be provided for 10,000 soldiers and 1,000 civilian employees for the military by end-2025, the newspaper said, adding the move was part of this year's budget planning to be approved by the cabinet next week. The new jobs will cover armed, air, naval and cyber forces, the report said. Germany's Defense Ministry declined to comment. Germany needs up to 60,000 additional troops under new NATO targets for weapons and personnel, Defense Minister Boris Pistorius said earlier this month, as the alliance beefs up its forces to respond to what it sees as an increased threat from Russia.
Al Arabiya
4 hours ago
- Al Arabiya
Ukraine asks allies to allocate 0.25 percent of GDP to boost its weapon production
President Volodymyr Zelenskyy has called on Ukraine's Western partners to allocate 0.25 percent of their GDP to helping Kyiv ramp up weapons production and said the country plans to sign agreements this summer to start exporting weapon production technologies. In remarks released for publication by his office on Saturday, Zelenskyy said Ukraine was in talks with Denmark, Norway, Germany, Canada, the United Kingdom, and Lithuania to launch joint weapon production. 'Ukraine is part of Europe's security and we want 0.25 percent of the GDP of a particular partner country to be allocated for our defense industry and domestic production,' Zelenskyy said. As the war with a bigger and better-equipped Russia has intensified in recent weeks, Ukraine's need for new weapons and ammunition is constantly growing. This year Kyiv had secured $43 billion to finance its domestic weapon production, Zelenskyy said. Member nations of the NATO military alliance are expected to meet next week in The Hague, to discuss higher defense spending. NATO Secretary General Mark Rutte has proposed that countries should each agree to spend 5 percent of their GDP on defense and security measures. Zelenskyy said he was likely to visit the NATO summit, adding that several meetings with Western leaders had been set up on the sidelines. He also said that he hoped to meet U.S. President Donald Trump. Last week, Zelenskyy attended the Group of Seven summit in Canada as he sought to discuss stronger sanctions against Russia and more military support for Ukraine with Trump there. But he failed to meet with the U.S. President as Trump left a day early for Washington to address the Israel-Iran conflict. Ukraine currently covers about 40 percent of its defense needs with domestic production, and the government is constantly looking for ways to increase production further. Kyiv plans to launch joint weapon production outside of the country and will start exporting some of its military production technologies, Zelenskyy said. 'We have launched a program 'Build with Ukraine' and in summer we will sign relevant agreements to start exporting our technologies abroad in the format of opening production lines in European countries,' Zelenskyy said. The discussions focused on producing different types of drones, missiles, and potentially artillery, he said.
Arab News
8 hours ago
- Arab News
NBA superstar Kevin Durant partners with QSI and European champions Paris Saint-German
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. For the latest updates, follow us @ArabNewsSport 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.'
