A report earlier this evening mentioned NBA super-star and global sports icon, Kevin Durant, has bought a minority stake in the Philadelphia Union per Mark J. Burns of Sports Business Daily.
The deal is reportedly a 1-5% share and no financials have been disclosed as of now. There is no clear information on whether his investment will impact team spending power, but his notoriety around the globe should prove to be overwhelmingly positive.
Just over six months ago, Durant visited the Union’s front office headquarters in Chester, PA along with members of Thirty-Five Ventures, a business Durant co-founded along with business partner Rich Kleiman. They founded the business in 2017 and have been continually showing interest in buying a small share with DC United, but were turned down twice, according to The Athletic.
But during that meeting in December, Durant and his associates must have found the right words ultimately ending in a successful venture.
NBCSports.com reported the investment as “random” yet to those who pay attention, it’s far from it. NBA star James Harden joined the ownership group of fellow MLS club Houston Dynamo back in 2019.
Add into the mix the Union’s steady trend upward in terms of league success and national conversations, a decision to invest could be a smart move for a guy looking to expand his portfolio.
As of tonight, both Durant and the Union have declined comment on the report. Details are likely to follow within the next few days. But for now, Union fans once more can enjoy some positive news during a dismal time.
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Mandatory Credit: Gregory Shamus – Getty Images