NBA’s next star will play for Dunkin’ Brands, which has been hit with $1.6 billion in layoffs

A new day is dawning for a company that, in June 2015, laid off nearly 2,500 employees and was forced to lay off another 5,000 as it struggled to make money.

Now, the Dunkin franchise is set to be spun off and become a privately held entity.NBA Commissioner Adam Silver announced Wednesday that the league’s governing body will name Kevin Durant as the new face of the franchise and said the franchise will focus on providing NBA players with an exceptional experience.

The new franchise will be formed under the supervision of billionaire investor Marc Lasry.

The NBA will name its president, general manager and head coach.