NBA star Kevin Durant invests in MLS's Philadelphia Union

Kevin Durant became the latest sports athlete to invest in an MLS team when the Brooklyn Nets star purchased a stake in the Philadelphia Union.

In the last year, Houston Rockets guard James Harden and Seattle Seahawks quarterback Russell Wilson became investors in the Houston Dynamo and Seattle Sounders, respectively. Two former NBA stars have owned interest in MLS teams since their launch: Magic Johnson (LAFC) and Steve Nash (Vancouver Whitecaps).

The Union's deal with Durant includes a marketing partnership with Thirty Five Ventures, a firm operated by Durant and business partner Rich Kleiman, and an agreement to work on community outreach with the Kevin Durant Charity Foundation (KDCF).

Durant, who was previously in talks with D.C. United, purchased a 5 percent interest in the Union with the option to purchase an additional 5 percent. Jay Sugarman, the Union's majority owner, told ESPN that the Union is valued at over $325 million -- the reported price David Tepper paid to acquire the MLS team in Charlotte -- which puts Durant's stake at a minimum of $16.25 million.

The Philadelphia Inquirer reported that the Union reached out to Durant in 2018, using a connection minority owner Richard Leibovitch had with Kleiman, and sold Durant on the chance to have an impact in the Philadelphia area.

“My team and I connected instantly with the Union coaching staff and leadership, as well as the team’s story,” Durant said in a statement. “Off the pitch, I’m looking forward to working in the Chester and Philadelphia communities and making an impact in the same way that the KDCF has been able to in my hometown of Prince George's County.”

1 comment about "NBA star Kevin Durant invests in MLS's Philadelphia Union".
  1. Patrick Bell, June 16, 2020 at 8:50 a.m.

    KD grows up in the DC area and wants to make an investment in DC United and does not get the chance? SMH

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