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Kevin Durant’s latest investment: renovating Baltimore Bullets old arena

On Wednesday, Baltimore’s Board of Estimates approved a $150 million renovation of the city’s venerable Royal Farms Arena in a deal with facility operator Oak View Group and its partner Thirty-five Ventures, Kevin Durant’s holding company. Durant is a native of Prince George’s County, Maryland.

The arena, known as the Baltimore Civic Center when opened 60 years ago, was the home of the Baltimore Bullets — now the Washington Wizards — for 10 years between 1963 and 1973. In 1969, it hosted the NBA All-Star Game. NBA preseason games have occasionally been held at the arena as well in the years since Bullets moved to Washington.