Kevin Durant Buys Stake in Philadelphia’s Pro Soccer Team
Brooklyn Nets star Kevin Durant reportedly finalized a 5% ownership stake in the Philadelphia Union of Major League Soccer on Monday (June 15th), for an undisclosed amount. The former NBA MVP will also have the option to purchase an additional 5% at a later date. In a statement, Kevin Durant touches on joining the MLS.
“I’m excited to partner with the Philadelphia Union for years to come. My team and I connected instantly with the Union coaching staff and leadership, as well as the team’s story.”
— Kevin Durant (@KDTrey5) June 15, 2020
Kevin Durant tells ESPN,
“I’ve been a fan of the sport, and then seeing how fast the popularity of the league was growing, seeing more fans pop up in different cities around the country, and then seeing how these franchises impact the city’s businesses and people individually was very intriguing.”
At the age of 31, Durant joins the likes of Houston Rockets guard James Harden and Seattle Seahawks quarterback Russell Wilson as investors in MLS teams. In 2019, Harden invested $15 million in the Houston Dynamo franchise. The Dynamo was last valued at $280 million, while the Union is worth $240 million, according to Forbes.
Durant added that he still dreams of owning an NBA team, however, he admits,
“That’s easier said than done.”
“I would love to. [Owning an NBA team] is the goal, that’s the plan. But who knows? It’s a tough business to get into, obviously. You need a lot of capital to do it. But I’m just learning the business, learning the sport, really keeping my love for the sport. I think that will lead me in the right direction. We’ll see what happens.”
Jay Sugarman, the Union’s majority owner, also released a statement and welcomed the 2-time NBA champion to his organization. He said,
“Having Kevin and his team joining in a really significant capacity gives us something special, something unique. He’s a champion and a sports icon, but he’s also a philanthropist and a community icon. He brings exactly what we need, that champion mentality on the field, but also that impact off the field.”
The Philadelphia Union is coming off its most successful season to date in 2019 with the most wins, record-breaking attendances and the team’s first playoff win.
What are your thoughts on Kevin Durant’s investment in MLS? Let us know in the comments!