Latest news with #basketball
New York Times
23 minutes ago
- Business
- New York Times
NBA star Kevin Durant invests in PSG, to consult on ‘potential' basketball expansion plans
Two-time NBA champion Kevin Durant has expanded his relationship with Qatar Sports Investments (QSI), investing directly into UEFA Champions League winners Paris Saint-Germain as part of a strategic partnership that will also see Durant consult on the club's 'potential plans' to expand into basketball. Advertisement In March, QSI revealed it had been approached about the possibility of launching a basketball franchise in Paris and that it had expressed an interest. The approach related to the NBA's potential expansion into Europe, under the moniker NBA Europe, and plans that have been developed under the leadership of commissioner Adam Silver. The Athletic reported in March that Silver would pitch the NBA Board of Governors with the outline of a plan to launch a new pro basketball league in Europe within the next couple of years. The prospective league had been hoping to attract 16 teams, which would include franchises in markets such as London and Paris, as well as possible defectors from the EuroLeague. Since then, there have been indications from NBA and EuroLeague executives that there may be a way to collaborate. EuroLeague CEO Paulius Motiejunas conceded to The Athletic that 'it is becoming more obvious that we have to work together', while NBA deputy commissioner Mark Tatum said the NBA intends to be the 'operator' of 'the top tier league in Europe.' Sources familiar with the planning, who wished to remain anonymous to protect relationships, confirmed PSG's ambitions in basketball relate to NBA Europe and indicated that it would be for the NBA and EuroLeague to thrash out what happens in Paris, where there is already a Paris team playing in EuroLeague. QSI, along with other major sports investors, are waiting for the NBA to launch its process for franchises in Europe. It remains to be seen whether NBA Europe will be a competitor or if some form of partnership with EuroLeague may develop. Durant's direct investment in PSG is a slightly convoluted affair. The 36-year-old had previously invested a single-digit million shareholding in the team, according to sources briefed on the matter but not authorized to speak publicly. This was made via his investment firm Boardroom, but this injection came via a financial vehicle created by the private equity firm Arctos Sports Partners. Arctos itself had purchased a 12.5 percent stake in the French team in December 2023, a deal which at the time valued PSG at around €4.25billion ($4.58bn; £3.64bn, currency figures based on the rates when the deal was announced). This latest deal, however, sees Durant exit the stake acquired via Arctos, with his exit taken up via other money from the fund, which means Arctos has not diluted and its stake remains at around 12.5 percent. Advertisement Durant has now taken a direct minority stake in PSG through Boardroom in tandem with his business partner and former long-time agent Rich Kleiman. The size of his investment is roughly the same as previously, but PSG is not disclosing the precise sum. In these partnerships, the access to the famous athlete and their connections, clout and expertise is, in any case, more valuable to the Qatari fund, which is not short of money. Durant, whose fourth Olympic gold medal came last year in Paris, said in a release: 'It is an honour to partner with QSI and be a shareholder in Paris Saint-Germain — a club and a city that is so close to my heart. This club has big plans ahead and I can't wait to be a part of the next phase of growth; and to explore new investment opportunities with QSI.' The stake, however, is just one aspect of the deal as PSG and Boardroom have also signed a strategic investment partnership. This means Boardroom and QSI will team up on commercial, investment and media content initiatives, as well as advising on PSG's growth in the U.S., while the parties will also develop merchandise together. Most crucially, perhaps, Durant will consult 'on Paris Saint-Germain's multi-sport strategy, including potential plans in basketball,' the release said, opening the door to Durant leading the way on NBA Europe's launch plans. Nasser Al-Khelaifi, chairman of Qatar Sports Investments, added: 'QSI is pleased to welcome Kevin Durant as a direct shareholder in Paris Saint-Germain and strategic partner of our group. We continually seek to elevate the club and our broader portfolio through high-impact partnerships that bring strategic value, innovation, and global perspective. Together with Kevin, we look forward to developing ambitious initiatives that will drive the continued global growth of Paris Saint-Germain and QSI.' Advertisement PSG's multi-sport empire already includes men's and women's soccer, youth soccer, handball and judo. Basketball will add to the set. PSG recently announced it is looking at fresh sites to build a new stadium away from their current home at Parc des Princes. The team is studying sites in Massy and Poissy and is examining a modern construct that will feature state-of-the-art sports and entertainment options. The club wants its stadium to be part of a multi-functional area and a destination. The team's CEO, Victoriano Melero, told Reuters last week that PSG may take inspiration from SoFi Stadium in Inglewood, Ca., which is a $5billion home to the NFL's Los Angeles Rams and Los Angeles Chargers, while it has hosted headline concerts for superstars such as Taylor Swift. It will also host eight matches during the World Cup in 2026 and events in the Olympic Games in 2028, but PSG have noted how the area has become a sports, entertainment and residential hub in Hollywood Park. The LA Clippers play at the Intuit Dome, a newly opened NBA arena a mile from the stadium. Analysis by senior NBA writer Joe Vardon Paris has always been a coveted market and center to any designs Silver has of starting a new league in Europe. This is no secret, nor is it a secret that the NBA's intended partner there is PSG because of the enormous financial and marketing power of the soccer conglomerate. PSG and its Qatari owners don't need Durant's money, nor, really, even his media company. But they are likely going to build a new arena — Durant could consult. As the league comes online, they'll need a practice facility and coaches, where perhaps Durant could weigh in. Imagine if Durant… played for PSG basketball. At age 36, Durant, who wants to continue playing, can sign a two-year extension this summer (presumably after he's traded by the Phoenix Suns). Silver has suggested it could take a few years to bring NBA Europe online. What if the league launched with Durant as its signature player? Don't rule it out — I have had prominent NBA coaches tell me they'd love to live and coach in Paris once their contracts run out. Advertisement Otherwise, Durant as a name partner with PSG could, conceivably, help in a likely competition for fans with the current Parisian pro team, Paris Basketball, which competes in the EuroLeague and top French pro league, has a new arena, and also holds near exclusivity for games at Paris' largest arena, Bercy.
CNN
40 minutes ago
- Politics
- CNN
Senegal women's basketball team cancels US training camp after some players have visas denied
The Senegal women's basketball team has had to cancel a training camp it had scheduled in the United States after some members of its squad had their visas denied, the country's prime minister said on Thursday. Senegalese Prime Minister Ousmane Sonko wrote on Facebook that the 10-day training camp – which was due to be held at a college in the US between June 22 to July 3 – will instead take place in Senegal's capital, Dakar, 'a sovereign setting that is conducive to the performance of our athletes' after 'several' players had their visas denied. 'We clearly and firmly reaffirm our new cooperation doctrine: free, balanced cooperation based on mutual respect and shared benefit,' Sonko wrote in his post. In a statement posted on Instagram from the Senegalese basketball federation, the governing body said that two representatives of the federation, a doctor, a physiotherapist, five players, a steward, the general manager and the ministerial delegate were refused visas by the ambassador of the United States to Senegal. No reason was given as to why the visas were denied. A State Department spokesperson told CNN Sports that due to the confidential nature of US visas, it couldn't comment on individual cases. CNN Sports has reached out to the Department of Homeland Security for comment. Earlier this month, US President Donald Trump announced a travel ban for 12 countries, which restricts entry of nationals from Afghanistan; Myanmar, also known as Burma; Chad; Republic of the Congo; Equatorial Guinea; Eritrea; Haiti; Iran; Libya; Somalia; Sudan; and Yemen. People from seven countries have a partial restriction: Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela. In the president's initial proclamation, there are exceptions for athletes, coaches, important staffers and immediate family for athletes traveling to the US for the 2026 World Cup, 2028 Olympics Games and 'other major sporting event as determined by the Secretary of State.' The news comes amid reports that Trump is weighing up adding a further 36 countries to the banned list, 25 of which are set to come from Africa, including Senegal. The Senegalese team is the dominant force in African women's basketball, having won 11 FIBA Women's AfroBasket titles, the most of any country. However, the Lionesses have failed to reach those heights in recent years having last been victorious in 2015, finishing second three times since then. The camp in the US was in preparation for next installment of the biennial tournament which will be played between July 26 and August 3 in Abidjan, Ivory Coast.
Yahoo
2 hours ago
- Sport
- Yahoo
Former Kings GM and NBA great Vlade Divac undergoes emergency hip surgery after motorcycle fall
Former Sacramento Kings general manager Vlade Divac underwent emergency surgery after fracturing his hip in a motorcycle fall, according to the Associated Press. The incident took place Thursday in Risan, Montenegro. Divac, 57, had an artificial hip implanted following the accident. Doctors said Divac was in stable condition after the incident, per the AP. "During the day, a surgical procedure was performed," said Ljubica Mitrovic, a spokeswoman of the hospital in the town of Risan. "He is in a stable general and physical condition and is under a careful supervision of the medical staff." Advertisement After being selected by the Los Angeles Lakers in the first round of the 1989 NBA Draft, Divac went on to play 16 years in the league. He averaged 11.8 points and 8.2 rebounds over his career, also seeing time with the Charlotte Hornets and Sacramento Kings. He was inducted into the Naismith Basketball Hall of Fame in 2019. In addition to his NBA career, Divac — who is Serbian — experienced success with the Yugoslavian national team. He helped lead the team to two silver medals at the Summer Olympics. He's considered one of the best International Basketball Federation (FIBA) players of all time. Divac spent roughly a decade away from the NBA before joining the Kings as an advisor. He eventually moved into the team's general manager role. Divac served in that position for six seasons. The Kings struggled under Divac, who posted a .402 winning percentage as the team's general manager. They failed to make the playoffs in each of Divac's six seasons as GM. Following the 2020 season, Divac stepped down as the team's general manager.
Wall Street Journal
2 hours ago
- Sport
- Wall Street Journal
The Pacers Aren't Supposed to Be One Win From the NBA Title. And Yet Here They Are.
Well, well, well—look who's one game away from winning the NBA championship? The never-over-til-they're-over, who-wudda-thunk-it Indiana Pacers.
Forbes
2 hours ago
- Business
- Forbes
How The BIG3 Is Faring As It Begins Its Eighth Season
Michael Beasley goes one on one against Wesley Johnson in the first game of the BIG3's season. Michael Beasley, the second overall pick in the 2008 NBA Draft, went mano a mano against Wesley Johnson, the fourth overall pick in the 2010 NBA Draft. That kind of one-on-one showdown is a signature of BIG3 play. Each team in Ice Cube's three-on-three basketball league can challenge one foul call per half, creating the 'Bring the Fire' situation, and in the first one of the year, Johnson got the better of Beasley, stripping the ball from the 2024 BIG3 MVP. Profanities and trash talk ensued. Bring the Fire is not only one of the most intense plays of BIG3 action, but it also adds revenue through its Red Lobster sponsorship. 'Sponsors are the lifeblood of sports,' entertainment industry executive/BIG3 co-founder Jeff Kwatinetz exclusively shared. Last season the BIG3 generated more than 25 million impressions for their clients, and several sponsors, including Walmart, Capital One, Merck and Simply Spiked by Coors, have returned. The Snickers candy logo is displayed on the referees' shirts, and ballboys use Swiffers (made by sponsor Proctor & Gamble) during timeouts. Fans wave foam red claws during Red Lobster's Bring the Fire. Such product placement is a positive economic sign, but leagues like the NFL and NBA have about 40 to 50 more sponsors than the BIG3. Nonetheless, Ice Cube is bullish as his league began its eighth year on Saturday. 'I definitely consider it a success,' BIG3 co-founder Ice Cube exclusively shared. Achieving financial success, though, is difficult for any upstart sports league because of the overhead. Kwatinetz noted that challenge of creating a pro league from scratch is 'not for the faint of heart.' 'We're still early,' he said. 'I mean, it took UFC 14 years to become profitable. Hopefully, it's going to take us eight.' To help with profitability, the BIG3 added local ownership for this season. It previously had been a traveling road show, going to a different city each summer weekend. Now based in eight cities, the clubs have been selling for about $10 million, according to a source close to the situation. That not only grows the financial pie, but Ice Cube and Kwatinetz are also hopeful that having localized owners will serve as a way to further engage those markets. Another positive is the ratings, which averaged 455,000 viewers on CBS across all 10 weeks and 512,000 when not coinciding with the Summer Olympics last year. 'Our ratings are great,' Kwatinetz said. The BIG3's 2024 viewership was better than the NHL's 2025 regular season, which averaged 445,000 viewers. The NHL, however, receives an uptick for its playoffs and plays a lot more regular-season games (82), resulting in a bigger cumulative number. For 2025 the BIG3's first two games each weekend are being televised on CBS, and the second two are on VICE Sports. Ratings for the Week One games on CBS were an impressive 513,000 despite airing against the U.S Open and New York Liberty-Indiana Fever game, featuring Caitlin Clark's return from injury. The latter is particularly noteworthy because the WNBA was a ratings behemoth, averaging well more than a million viewers during Clark's rookie year last season. The BIG3 will play most of its games in NBA arenas, including Houston's Toyota Center and Los Angeles' new, cutting-edge Intuit Dome. But Week One was played in Chicago's Allstate Arena, a stadium with a capacity of 18,500, and official attendance was 7,809. Although the lower bowl of the facility with two-level seating was mostly full, no one sat in the 200 level. The BIG3, however, did a good job of cultivating a basketball culture for those in attendance. Matas Buzelis, last year's lottery pick of the Chicago Bulls, sat courtside under the baseline, and so did Antoine Walker, the former Boston Celtics star, who grew up in Chicago. Beasley even flexed and screamed at Buzelis, who laughed it off. Fan interaction with players has long been a goal of the league. Before his game DMV Trilogy coach/14-year NBA veteran Stephen Jackson took selfies with fans. Dwight Howard did the same hours after he memorably ended his BIG3 debut by getting kicked out after a fight. 'It's funny,' Ice Cube said. 'He was thrown out of his first BIG3 game, but welcome to the BIG3.' Landing Howard, an eight-time All-Star and three-time Defensive Player of the Year, was a coup for the league. He is the third Naismith Basketball Hall of Famer to play in the BIG3, joining Chauncey Billups and Allen Iverson, though the latter barely played in the BIG3's inaugural season. Nearly a decade later, Ice Cube's league is still kicking. 'It's a great product,' the hip-hop star said. 'I still want to improve.'
