Durant’s $200M SPAC Will Focus on Sports Acquisitions

    • Kevin Durant has launched Infinite Acquisition Corp., a blank-check company.
    • The SPAC filed for a $200 million IPO on Wednesday.

Today's Action

All times are EST unless otherwise noted. Odds/lines subject to change. T&Cs apply. See draftkings.com/ for details.

NBA star Kevin Durant has launched Infinite Acquisition Corp., a blank-check company that filed for a $200 million initial public offering on Wednesday.

The SPAC will sell 20 million shares at $10 apiece and has pledged to redeem 100% of the shares for cash if it fails to acquire a company to take public within 18 months of its IPO.

Infinite will focus on acquisitions in sports, e-commerce, and cryptocurrency.

Durant serves as co-CEO of Infinite with Rich Kleiman, his business partner in Thirty Five Ventures, a VC firm launched by the duo in 2016.

Infinite adds to Durant’s growing list of investments in sports and tech.

  • In March, he invested in Andbox, an esports organization and team operator.
  • He took part in a $3.5 million seed funding round for Just Women’s Sports in May.
  • He participated in a Series B round in July for OpenSea, an auction platform for NFTs.
  • He joined in a $15 million round for collectibles trading app Rally in October.
  • The same month, he was part of a group that invested $100 million in SeatGeek.

The two-time NBA champion is set to earn $87.9 million in 2021-22 between his $40.9 million salary and an estimated $47 million from off-court ventures.