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Six months after Kevin Durant and manager/agent Rich Kleiman visited the offices of the Philadelphia Union, the Nets superstar has purchased a small stake in the MLS team, according to Sports Business Daily.
SBD’s Mark Burns reports...
Nets F Kevin Durant has purchased a minority stake in the Union, between 1% and 5%, according to a source. It’s unclear if Durant’s investment in the MLS team is a personal one or through Thirty Five Ventures, a business he co-founded with partner Rich Kleiman.
Nor was there any indication of how much KD —or his company— paid for the stake.
Durant has been investing in a broad range of companies, Last year, Forbes reported that among the companies he’s invested in are Coinbase, Robinhood, Caffeine TV, Imperfect Food, Lime scooters, Postmates and the robo-investor Acorns.
All those investments were made through Thirty Five Ventures. When he visited the Union headquarters last December, two people who work in the building tweeted photos of him walking through the lobby, the Inky reported. One of the pictures included owner Jay Sugarman and Union manager Jim Curtin.
KD at the office looking to play pick up with @luc_moute. pic.twitter.com/9ExOYaBrs2
— Michael Repko (@mikerepko) December 20, 2019
Rach got a clearer pic than me. I suck pic.twitter.com/yQr1L5lRay
— Dani Targaryen (@DanielleChiaro) December 20, 2019
In October of last year, The Athletic reported that he met twice with D.C. United, his hometown team: first in 2012, then in 2018. Neither effort resulted in a deal. The Athletic said then that Durant might look into investing in a different MLS team.
The MLS is finalizing plans to play this season at ESPN’s Wide World of Sports, the same location the NBA has chosen to resume its season.
KD becomes the second person associated with the Nets to own a stake in an MLS franchise. Joe Tsai is a minority investor in the LA Football Club.
Meanwhile, Thomas Brewster, writing for Forbes, reports Durant is also an investor in Skydio, a drone company that started as more of a hobbyist item, but has won government surveillance contracts.
- Kevin Durant Buys Minority Stake In Philadelphia Union - Mark J. Burns - Sports Business Daily
- Report: Kevin Durant buys minority stake in MLS’ Philadelphia Union - Malika Andrews - ESPN
- Founded By Ex-Google Engineers, Meet The Drone Startup Scoring Millions In Government Surveillance Contracts - Thomas Brewster - Forbes