Goldin Auctions, which specializes in auctioning sports memorabilia and collectibles, has been sold to a group that includes Brooklyn Nets star Kevin Durant and YouTube personality Logan Paul.
Per Bloomberg's Lucas Shaw, Ken Goldin sold a majority stake in Goldin Auctions to an investment group for $40 million.
Durant and Paul are joined by Dallas Mavericks owner Mark Cuban, actor Mark Wahlberg and others in buying a stake in the auction site.
Shaw noted the investment is designed "to help the company become the dominant player in the booming market for sports-trading cards."
"Outside of the U.S., it is impossible to buy cards," Goldin told Shaw. "When that problem is solved, and people in Australia, Korea, Japan, China and Denmark—all these hot beds—can have easy access to buying and selling cards, you’ll see an explosion in the marketplace."
Since being founded in 2012, Goldin Auctions has become one of the leading destinations for selling and buying some of the most valuable sports memorabilia in the world.
Earlier this year, the company became the first sell more than $30 million in merchandise during a single auction when such items as two Michael Jordan rookie cards, 1952 Topps Mickey Mantle card and a Panini National Treasures Anthony Davis NBA Logoman Rookie Patch Autograph were sold.
Last October, Goldin Auctions sold the famous T-206 Honus Wagner baseball card for more than $1.4 million.