The Union reached out to Kevin Durant last year following reports that he talked to DC United in '18NBAE/GETTY IMAGES
The Union have "rarely been one of the cool kids in MLS or in Philadelphia sports," but now they have "one of the biggest names in American sports on their marquee" as the club yesterday officially announced that Kevin Durant acquired a 5% stake, as first reported by THE DAILY, according to Jonathan Tannenwald of the PHILADELPHIA INQUIRER. Union Chair & Owner Jay Sugarman "wouldn’t confirm a dollar value for Durant’s stake, but he did say it sets the team’s value 'north of the most recent expansion fee,'" reportedly $325M. The Union "reached out to Durant last year after reports surfaced of his having talked" with DC United in late '18. Union minority investor Richard Leibovitch "had a connection to Rich Kleiman, Durant’s manager, and took a shot." The sales pitch included the "impact Durant could have beyond soccer in a metropolitan area with a huge black population." Durant on his conversations with Leibovitch said, "We talked about MLS as a whole, the sport as a whole, the future of the game, and where they wanted to take it.” Tannenwald writes Durant’s arrival "comes at a time when the American soccer community has fortified an already-strong social and political voice." On that front, Sugarman said he is “pleased that our players are willing to do the right thing,” adding Durant’s “perspective and advocacy will be really important guides for us as we work to be part of the solution" on racial and social justice (PHILADELPHIA INQUIRER, 6/16). O’Melveny advised Durant on the deal. The law firm's contingent included Chuck Baker, Vince Ferrito and Trevor Wysocki (O’Melveny).
