Basketball superstar Kevin Durant purchased a 5 percent ownership stake in the Philadelphia Union, the MLS club announced Monday.
The Brooklyn Nets forward also has an option to purchase an additional 5 percent at a later date.
The deal includes a partnership with Durant and business partner Rich Kleiman's Thirty Five Ventures to grow the Union's marketing opportunities and expand the club's community outreach efforts alongside the Kevin Durant Charity Foundation.
"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," Durant said in a news release. "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."
"The partnership between Kevin and the Philadelphia Union is based on a set of shared values and philosophies," Union owner Jay Sugarman said in the release. "We want to be known as an innovator in our league and a team that is never satisfied with the status quo. Kevin brings us unique perspectives as a person, as a champion, and as a sports icon. His work with the Kevin Durant Charity Foundation has shown he has a community-first mindset that resonates with our club's DNA. Combined with his competitive drive and forward-thinking mentality, we believe Kevin adds a key piece in reaching our ambitions for the club."
Durant, 31, has been sidelined during the 2019-20 season while recovering from a torn Achilles. He is a four-time scoring champion, a 10-time All-Star and two-time NBA Finals MVP.
Numerous MLS teams have celebrities as minority-share owners, including Los Angeles FC (Will Ferrell, Magic Johnson, Mia Hamm, Nomar Garciaparra), the Seattle Sounders (Russell Wilson, Ciara, Macklemore, Drew Carey), the Houston Dynamo (James Harden), the Vancouver Whitecaps (Steve Nash) and the upcoming Austin FC expansion team (Matthew McConaughey).
--Field Level Media