Rockets star Harden buys stake in MLS’ Dynamo
James Harden has joined the Dynamo’s possession group. Picture by VCG/VCG through Getty Photos
Houston Rockets famous person James Harden has bought a minority stake within the funding group that controls MLS’ Houston Dynamo, the NWSL’s Houston Sprint and BBVA Stadium, the Dynamo introduced on Thursday.
“I am very excited in regards to the alternative to hitch the possession group of the Houston Dynamo and Houston Sprint and proud to be part of a membership with super historical past and a terrific future,” Harden mentioned in a press release issued on the Dynamo’s web site.
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“Houston is my dwelling now, and I noticed this as a method to spend money on my metropolis and increase my enterprise pursuits on the identical time. Soccer generally, and particularly MLS, have exploded on this nation all through my lifetime. I have been a fan of the sport for a number of years, and I do know that Houston has a large soccer fanbase, so it was a simple choice for me when this chance arose.”
Entrance Workplace Sports activities was among the many first report the transaction, including that the Rockets star has bought a 5% stake. In line with the outlet, the general valuation of the Dynamo, Sprint and BBVA Stadium — the place the Dynamo and Sprint play their dwelling video games — is “at the very least $475 million.”
Nice day within the H@JHarden13 joins the #ForeverOrange household🤘
— Houston Dynamo (@HoustonDynamo) July 18, 2019
The seven-time NBA All-Star signed a assured $228 million contract with the Rockets in 2017. He joins an possession group that features majority proprietor Gabriel Brener, boxing legend and promoter Oscar De La Hoya, White Deer Power managing associate Ben Guill and Portland, Oregon-based investor Jake Silverstein. All are anticipated to stay within the Dynamo/Sprint/BBVA Stadium investor group.
“We’re thrilled to welcome James into our membership. He is an icon within the Houston group, and never solely is he a terrific basketball participant, he has an especially sensible and savvy thoughts for enterprise,” Brener mentioned. “James will convey a really distinctive perspective to our possession group, and I am trying ahead to listening to his ideas and opinions on the membership going ahead.”
De La Hoya, who based Golden Boy Promotions in 2002, mentioned Harden’s success as an athlete will assist him in enterprise as properly.
“James is already on the high of the sport in his sport, so it is solely pure to wish to tackle new challenges past the court docket,” De La Hoya mentioned. “He is aware of the drive and the dedication it takes to be the very best, and I am excited that he’ll convey that perspective to our membership.”
Brener acquired controlling curiosity within the Dynamo from earlier house owners AEG in 2015 after first investing within the Dynamo in 2008. BBVA Stadium opened in 2012 and the possession group later purchased into the NWSL in 2013.