Kevin Durant has always proven himself to be an astute businessman off of the basketball court. Durant has his very own business called Thirty Five Ventures and continues to display competency in the media space. Now, he is using his Thirty Five Ventures company to link up with the Philadelphia Union of the MLS.
According to ESPN, KD purchased a 5 percent stake in the team and he will be able to buy himself another 5 percent later on down the line. The Union are currently evaluated at $325 million which means Durant's purchase is about $16.25 million.
Bob Levey/Getty Images
"I've been a fan of the sport, and then seeing how fast the popularity of the league was growing, seeing more fans pop up in different cities around the country, and then seeing how these franchises impact the city's businesses and people individually was very intriguing," Durant said to ESPN.
With this new deal in mind, Durant will be using Thirty Five Ventures to help increase the visibility of the team. This will be done through various media efforts and outreach campaigns. Overall, Durant hopes to grow the Union's brand and hopes to use this as an addition to his company's growing portfolio.
KD also noted that he hopes to one day own an NBA team and this latest venture brings him one step closer to that.
[Via]