Kevin Durant joins investment group trying to revitalize ‘Tiger Beat’
Oklahoma City Thunder superstar Kevin Durant has joined a sizable investment group that hopes to re-brand and revitalize the struggling “Tiger Beat” magazine, known over the years as the tabloid of choice for tween and teen girls, reports The New York Times.
Durant, along with comedian Nick Cannon and New York Giants chairman and executive vice president Steve Tisch, is part of the 17-member investment group that raised $2 million to invest in the struggling magazine, which has seen its popularity take a precipitous drop after in its heyday helped make teen idols of the likes of David Cassidy, Scott Baio and Leif Garrett, a trend that continues to this day with stars such as Jonas Brothers, Justin Bieber and goodness knows who else, albeit on a much smaller scale.
As noted by Eye on Basketball, the fact that Durant is among a large group of investors that raised a few million dollars means that the NBA superstar doesn’t have a huge stake in revitalizing “Tiger Beat.” But it is nevertheless an example of how professional athletes go to great lengths to diversify their investment portfolios and expand their brand outside of their respective sport.
Durant of course already has business relationships with the likes of Nike on the basketball front, but has made forays into other areas, such as his involvement with Sonic Drive-In — where he is the fast food outfit’s “athlete ambassador” — not to mention partnerships with SkullCandy headphones and low-fat yogurt franchise Orange Leaf, among many others.
And hey, if his minimal financial risk results in him landing on the cover of “Tiger Beat”? Hey, why not?