Kevin Durant the NBA star of Brooklyn Nets is now a sports team owner too. Durant bought 5% stake in Philadelphia Union. He also has the option that he can buy another 5% stake later, whenever he wants. Kevin Durant acquires stake in Philadelphia Union and now joins the stature of team owners. The Philadelphia Union is a soccer team part of the Major League. You may be an NBA fan or a soccer fan, it’s good news either way. The NBA star will now foray into soccer as a team owner. Actors like Matthew McConaughey and Will Ferrell too own stakes in MLS teams.
Kevin Durant acquires stake in Philadelphia Union
A lot of former sports stars have become owners of MLS or Major League Soccer teams. James Harden the guard from Houston Rockets and Russell Wilson the quarterback of Seattle Seahawks also invested in MLS teams. Harden holds a stake in Houston Dynamo while Wilson holds a stake in Seattle Sounders. Teams like Philadelphia and Houston aren’t that big yet and hence it’s cheaper to acquire the stake. Hence, a lot of people are showing interest in these teams.
Experts are already calling this a smart investment. They say that Durant’s investment is in acquiring cheaper stake and MLS teams are a good investment option. This will help Durant grow his money while still supporting sports. Experts also say that this great news for MLS teams since they’re losing money due to the pandemic. Now, Durant invests at a time when teams are struggling to bring in investments. Moreover, Durant’s investment at a time like this will uplift the stature of MLS. MLS is also going to enjoy a spurt in popularity due to Durant’s own popularity.
Kevin Durant’s Take
Durant in an interview with ESPN told them that he has continually been a fan of MLS. He is thrilled to see soccer grow in popularity and people becoming soccer fans throughout the country. He also found the way these franchises affect the people and businesses of their respective cities, interesting.
Jay Sugarman is the majority owner of the team and he claims that the team is now worth over $325 million. Thus, Durant’s stake in the team is estimated to be at least $16.25 million. Sugarman also says that Durant’s experience on-field and off-field will benefit the team greatly. He also informed ESPN that Durant’s joining is something unique and special for the team. Sugarman called Durant a sports icon, community icon, and a prominent philanthropist. Durant’s winning mentality and off-field impact is a valuable addition to the team.
Don’t worry this does not mean that Kevin Durant is retiring. As you know, he is currently recovering from tearing his Achilles tendon during the NBA finals last year. He says that he will easily manage both his NBA and soccer interests. Kevin Durant still dreams of owning an NBA team someday. He knows that owning an NBA team is hard so he has started with soccer first.