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Kevin Durant buys ownership stake in MLS' Philadelphia Union

Kevin Durant of the Nets looks on during

Kevin Durant of the Nets looks on during the first half of a game against the Toronto Raptors at Barclays Center on Feb. 12, 2020. Credit: Kathleen Malone-Van Dyke

Kevin Durant’s NBA career is on hold, but his business career is moving forward.

The Philadelphia Union of Major League Soccer announced on Monday that the Nets star had purchased a 5% ownership stake in the team. The deal also allows Durant to purchase an additional 5% in the future.

The deal also features a partnership with the Union and Durant’s Thirty Five Ventures, which he runs with agent Rich Kleiman. That partnership will focus on growing the Union brand, marketing, and community outreach with the Kevin Durant Charity Foundation.

“I’m excited to partner with the Philadelphia Union for years to come,” Durant said in a statement. “My team and I connected instantly with the Union coaching staff and leadership, as well as the team’s story. 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.”

In an interview with ESPN, Durant said the growing popularity of MLS was “very intriguing” to him. He also said in the same interview that he would “love” to own an NBA franchise, but stressed that it is “a tough business to get into” and that he would need “a lot of capital to do it.”

Durant ruptured his Achilles tendon during Game 5 of the NBA Finals last season and had surgery on June 12.  He signed as a free agent with the Nets last July. Earlier this month, Durant ruled himself out of playing for the remainder of the 2019-20 season when the NBA resumes play on July 30 at Disney World in Orlando.

New York Sports