NBA star Westbrook ‘Thunder’ing investment

Article posted by Coliseum, December 10^th, 2024

Image: Energy FC (Facebook)

The National Basketball Association (NBA) star Russell Westbrook is investing in the NBA team Oklahoma City Thunder where he won the most valuable player (MVP) award and spent the first part of his career.

‘MERGERS&ACQUISITIONS’ stated that Westbrook’s company is joining forces with Echo, a firm founded by Christian Kanady, to fund sports and entertainment in the City, including a soccer stadium. The partnership said the investment was eight figures, meaning at least $10 million, while declining to be more specific.

New York (US)-based the National Basketball Association (NBA) is a professional basketball league in North America composed of 30 teams. It is one of the major professional sports leagues in the United States and Canada and is considered the premier professional basketball league in the world.

Russell Westbrook III is an American professional basketball player for the Denver Nuggets of the National Basketball Association (NBA). A point guard, Westbrook made his NBA debut in 2008 and became a star as a member of the Oklahoma City Thunder. He has played for six NBA teams.

The Oklahoma City Thunder is an American professional basketball team based in Oklahoma City, Oklahoma (US). The Thunder competes in the National Basketball Association (NBA) as a member of the Northwest Division of the Western Conference. The team plays its home games at the Paycom Center.

The 18,203-capacity Paycom Center is an arena located in Downtown Oklahoma City, Oklahoma, United States. It opened in 2002 and since 2008 has served as the home venue for the National Basketball Association’s (NBA’s) Oklahoma City Thunder.

Founded by Christian Kanady in 2010 and headquartered in the Ziggurat building overlooking Kerr Park in downtown Oklahoma City (US), Echo is a multistrategy investment firm committed to revitalizing the American industries. Echo strategically blends investments across energy, life sciences, national security, and media and entertainment.

Remarked Russell Westbrook, a point guard for the Denver Nuggets now playing in his 17th NBA season, “I spent a significant amount of time in Oklahoma City, so to me, that place is very special and is like a second home.”

‘MERGERS&ACQUISITIONS’ further stated that the funds will go toward building a 12,000-seat stadium for the Oklahoma City Energy FC, a team in the United Soccer League (USL) in which Echo owns a majority stake. The club had to suspend play the past few seasons because it didn’t have an adequate home field.

Tampa (US)-based United Soccer League (USL) is an organizer of soccer leagues in the United States. It operates several men’s and women’s leagues, both professional.

The Oklahoma City Energy Football Club, or simply Energy FC, is an American professional soccer club based in Oklahoma City, Oklahoma. The club is a member of the USL Championship, the second division of the American soccer league system.

The investment firms also plan to put money into developing the stadium’s surrounding area, which spans more than 40 acres, into an entertainment district with dining, retail and community spaces. The site is in Oklahoma City’s downtown, near its convention center and the NBA arena.

This kind of development is becoming more popular around the United States as the Cities aim to boost spending from the fans attending the games. The stadium project, which is also slated to receive the taxpayer funds, is expected to be completed in 2027.

Westbrook, one of NBA’s highest-paid players with roughly $345 million in career earnings, has also invested in Leeds United F.C. (UK), a Premier League soccer club. His other business ventures include a media company and clothing brand.

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