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Thursday, June 4, 2020

Articles tagged: Kevin Durant

Report: Kevin Durant buys minority ownership stake in MLS’ Philadelphia Union

Kevin Durant

Kevin Durant is getting into the soccer ownership business.

Durant purchased a minority stake in MLS soccer team the Philadelphia Union, according to Sports Business Daily’s Mark J. Burns. Burns reports that Durant’s stake is somewhere between 1-5 percent. It’s unclear whether he purchased the stake individually or through his Thirty Five Ventures business, which he co-founded with his manager, Rich Kleiman.

The Union were founded in 2008 and began play in MLS in 2010. They are owned primarily by Keystone Sports and Entertainment LLC.

Durant is a 10-time All-Star and was the 2013-2014 NBA MVP. His career earnings in basketball are over $190 million, and that does not include the $164 million on his Brooklyn Nets contract. He joins Russell Wilson as an athlete to own a minority stake in an MLS team (Wilson is a part-owner of the Seattle Sounders).