PSG is renewing its contract with a new investor. At the end of last year, The American basketball player joined the capital of the French team Paris Saint-Germain (PSG) through Arctos Sports Partners. The transaction was completed with PSG’s 12.5% stake for $4.3 billion, according to reports Sporty.
The Phoenix Suns player has become limited partner of Paris Saint-Germain, although the French club remains majority owned by Qatar Sports Investmentswho bought the Parisian club in 2011.
The news comes after the US basketball team won the gold medal in the Olympic final on Saturday. The agreement aims for PSG to expand the player’s image internationally..
Paris Saint-Germain closed the 2022-2023 season with losses of more than 100 million euros
Off the pitch, PSG has teamed up with the brand of basketball player Michael JordanNike Air Jordan, in 2018 to dress the team in the Champions League. The sponsorship agreement runs until 2032, marking the first time that this brand has operated in this sport.
In addition, LeBron James was another NBA player who has chosen to invest in a football team by giving One more step in his career as an entrepreneur becoming part of a group that owns the Red Sox and Liverpool FC. With that move, he became the owner of a block of shares in Fenway Sport Group, with a 2% stake in the English team.
The French club closed the 2022-2023 season with losses of more than one hundred million euros. Specifically, the loss figures soared to 109.8 million euros. Eighteen Ligue 1 teams lost a combined 273 million euros last season, compared to a combined deficit of 582 million euros in 2021-2022. In this regard, Paris Saint-Germain (PSG) is responsible for around 40% of the combined losses of the entire championship.
