Pepsi. Reebok. Carnival Cruises. Icy Hot. Gold Bond. Buick. The General. Zales… That's just a quick list, off the top of my head, of Shaquille O'Neal's endorsem*nt deals. A full list of Shaq's endorsem*nt portfolio would include more than 30 significant national brands. And on Monday Shaq added a new company to that portfolio: WynnBet. But before he could make that deal official, Shaq had to give up one of his other investments: His ownership stake in the Sacramento Kings.
WynnBET is the online gambling arm of Wynn Resorts Holdings, the publicly traded casino company that was founded by Vegas tycoon Steve Wynn. WynnBET was founded in the wake of a 2018 Supreme Court ruling that allowed states outside of Nevada to offer online gambling if local voters approved. WynnBETs is already operating in Colorado, Indiana, Michigan, New Jersey, Tennessee and Virginia.
Going forward Shaq will be the company's very visible brand ambassador and pitchman as it expands to more states and perhaps even globally.
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Shaq joins a slew of fellow retired athletes who have been hired as brand ambassadors for online casinos. For example, just two months ago BetMGM hired Wayne Gretzky to be its brand ambassador. Gisele Bundchen and her husband Tom Brady both have separate deals with DraftKings.
However, unlike other retired athletes who are now endorsing casinos, Shaq's endorsem*nt deal came with a unique requirement: He had to sell his stake in the NBA's Sacramento Kings.
Back in 2013, Shaq acquired 1% of the Sacramento Kings for around $5 million. NBA ownership agreements make it very difficult for team owners to own or be employed by a casino.
For example, in September 2017 Tilman Fertitta bought the Houston Rockets for $2.2 billion. Tilman earned his first fortune through the restaurant conglomerate Landry's. In 2005, Landry's bought Golden Nugget Casinos. So when Tilman became an NBA owner 12 years later, from that point on patrons at Golden Nugget Casinos were not allowed to bet on Rockets games. In a weird coincidence, on Monday it was separately announced that DraftKings was buying Golden Nugget from Fertitta for $1.56 billion. So in the very near future, Golden Nuggets patrons will finally be allowed to bet on Rockets games.
Back to Shaq.
Shaq isn't walking away from the Kings empty handed.
As we mentioned a moment ago, he paid around $5 million for his 1% stake in 2013. At the time of his purchase, the Kings were worth around $530 million. Today the Kings are worth $1.8 billion. Presumably, Shaq is selling his 1% stake for roughly $11 million. That would equate to a $6 million pre-tax profit.
Why give up NBA ownership for an endorsem*nt deal?
Well, I would bet my left hand that in addition to receiving a large monetary consideration for his endorsem*nt, Shaq is ALSO getting an equity stake in WynnBET. And according to Bloomberg, WynnBET is planning to be spun out as its own publicly traded company via SPAC in the coming months. I would wager that an equity stake in an online casino backed by one of the largest gambling companies in the world is going to be worth A LOT more in the long run, than a 1% stake in the Sacramento Kings.
Consider this – Shaq turning $5 million into $11 million via the Kings equates to a 120% rate of return over 8 years. Had Shaq simply invested $5 million in the S&P 500 back in 2013, he would have enjoyed a 156% return.
So his Kings investment was kind of blah… Not that Shaq is sweating it. We currently estimate Shaquille O'Neal's net worth to be $400 million. Perhaps most impressive, he is one of a tiny handful of athletes who has managed to earn far more money in retirement than he did even at the peak of his career. A decade after leaving the NBA Shaq continues to earn around $60 million per year.
FAQs
O'Neal, 49, who retired from the NBA in 2011 and was inducted into the Basketball Hall of Fame in 2016, posted on his official Twitter page that in order to pursue a business interest in the sports gambling world, he had to leave the Kings.
How much stake does Shaq have in the Sacramento Kings? ›
Shaq has been a minority owner of the Sacramento Kings since 2013. He is part of a group that owns approximately 5% of the team.
How much did Shaquille o neal sell his part of Sacramento Kings? ›
“In 2013, Shaq bought a 2% to 4% stake in the Sacramento Kings. But he sold his stake in 2021 in order to be a brand ambassador for online gambling platform WynnBET. The Kings are valued at $1.8 billion. Shaq made an estimated $36 million to $72 million from the sale.”
Does Shaquille o neal own part of the Sacramento Kings? ›
O'Neal became a minority owner of the Kings in September 2013. In August, O'Neal announced he was selling his share of the Kings to become a brand ambassador for the WynnBET sports gambling app. This story was originally published January 12, 2022, 8:56 PM.
Why did Shaq sell? ›
“I sold my Auntie Anne's because Black people don't like pretzels that much. So I had to switch it up,” Shaq said on the podcast.
Where does Shaq invest his money? ›
Some franchises Shaq invests in are Papa John's, Krispy Kreme, and Big Chicken. Shaq's investments include franchises, startups, real estate, and stocks. Shaq has stakes in tech startups like Google, Ring, and NRG Esports. He invests in real estate, including properties in Miami, Atlanta, and Las Vegas.
How many Papa John's does Shaq own? ›
He has owned and sold 155 Five Guys Burgers restaurants — which totaled 10% of the company's entire franchise portfolio. He also owns 17 Auntie Anne's Pretzels restaurants and nine Papa John's franchise units.
How many businesses does Shaq own? ›
Shaq built a commercial empire since his professional basketball career was over, making money from both his own unique initiatives and other corporate endeavors. The Big Diesel has a substantial and diversified investment portfolio that includes 50 distinct companies.
Whose royalties does Shaq own? ›
One of the greatest basketball players of all time has said that he owns the rights to royalties from famous figures such as Elvis Presley and Marilyn Monroe. This investment resulted from Shaq's astute business sense, as he spent around $135 million to purchase these rights.
How many five guys restaurants does Shaquille O Neal own? ›
Franchises. Shaq's first significant investment in a franchise was in this chain, he bought and sold 155 Five Guys restaurants. That amounted to 10% of their company at the time. The Diesel eventually sold his stake in the fast-casual franchise; Five Guys Burgers restaurants have undoubtedly made him wealthy.
Shaquille O'Neal Buys Minority Ownership Stake in Sacramento Kings.
How much Shaq made in Walmart? ›
Speaking to James Corden on The Late Late Show with James Corden, he said: "I have the biggest purchase in Walmart history. "$70,000. I get traded from Miami to Phoenix, and I'm the type of guy [that] I have no patience. "So when I get to Phoenix, they have an apartment for me.
What burger chain does Shaq own? ›
Some of the franchises Shaquille owns include Papa John's, Auntie Annie's, Five Guys, 24-hour Fitness Centers, Car Washes, and Krispy Kreme.
Do the Sacramento Kings make money? ›
The revenue of the Sacramento Kings franchise increased by 45 percent in the 2021/22 season. That season, the estimated revenue of the National Basketball Association franchise amounted to 279 million U.S. dollars.
What restaurant does Shaquille o neal own in Las Vegas? ›
The first Big Chicken in Vegas launched in 2018 on Paradise Road. O'Neal is one of three owners of the fast-casual franchise that currently can be found in 10 states and on Carnival Cruise ships. Franchising industry reports indicate Big Chicken has more than 150 stores in development nationally.
Which Krispy Kreme does Shaq own? ›
O'Neal only currently owns one location in Atlanta but says he would like to own many more and told The Wall Street Journal that Krispy Kreme is his favorite business endeavor. “I like doughnuts, and Charles Barkley loves doughnuts,” he said. “And he's my biggest customer. I wanna be a large part of that business.”
What was Shaquille O Neal biggest purchases? ›
#1 $70,000 purchase at Walmart
Shaquille O'Neal once made a gargantuan purchase at Walmart, and it's reportedly the largest sale in Walmart history. He spent $70,000 in one go at the Walmart in Phoenix after he got traded from the Heat to the Suns in 2008.
Why does Shaq sell his shoes at Walmart? ›
After a woman criticised him for selling expensive sneakers, Shaq left his $40M Reebok deal to make affordable shoes for kids. He partnered with Walmart selling shoes for $15-$30, compared to typical $100+ prices. Shaq said, “I went to my favorite store, Walmart, and we did a deal.
Does Shaq own Elvis Presley? ›
Who owns Elvis Presley? Me!” The former NBA champion spent around $135,000,000 to buy the rights to royalties from stars like Elvis Presley and Marilyn Monroe.
Did Shaq invest in Walmart? ›
Another of Shaq's bizarre stories is when he spent a ridiculous of money at Walmart, which is considered to be a place where people buy affordable stuff. Shaq spent $70000 at Walmart, which he claims is the biggest purchase in Walmart history. He says that he tried to use his credit card and it got declined.
“Compared to Michael Jordan, I am broke, damn!”: $400 million worth Shaquille O'Neal was bothered by $2.1 billion net worth of the Bulls legend.
Does Shaq have a PHD? ›
The former N.B.A. star Shaquille O'Neal received his doctoral degree in education from Barry University alongside 1,100 other students during commencement ceremonies in Miami Shores, Fla.
How many Papa John's does Manning own? ›
At one point in time, the celebrity athlete owned 31 Papa Johns franchises. Everyone knows Peyton Manning as the superstar quarterback who led the Broncos and Colts to Super Bowl victories.
How much does Papa John's pay Shaq? ›
The NBA Hall-of-Famer will be paid roughly $5.63 million for his services. The new contract will expire in 2025, with the option of a one-year extension.
Who owns JCPenney? ›
Under Simon and Brookfield: 2020-present
Marc Rosen became CEO in 2021. In April 2022, JCPenney's owners–Simon and Brookfield– offered $8.6 billion to purchase Kohl's. Sephora had already announced plans to contract exclusively with Kohl's by 2023, and had piloted Sephora Inside Kohls at select store locations.
Who is the richest NBA player in the world? ›
1. Michael Jordan Net Worth - $2.2 Billion. Viewed by many as the greatest player in NBA history, Jordan has turned his basketball acumen into a multi-billion dollar enterprise.
What companies does Michael Jordan own? ›
He is currently the principal owner and chairman of the NBA's Charlotte Hornets and of 23XI Racing in the NASCAR Cup Series. New York City, U.S. Jordan played college basketball for three seasons under coach Dean Smith with the North Carolina Tar Heels.
Does Shaq own Elvis catalog? ›
ABG acquired Elvis' royalties in November 2013 from Elvis Presley Enterprises, which was run by the late music icon's family. This includes a share of all licensing and merchandising related to the star. “I put money back in the company, and now I own all those other brands,” Shaq told Earn Your Leisure.
Does Shaq own Marilyn Monroe rights? ›
Technically speaking, Shaq isn't the owner of these brands. However, he signed a deal with Authentic Brands Group back in 2015, which awarded him the licensing rights to these brands. According to Essentially Sports, the Lakers legend spent $135,000,000 to make this deal happen.
What fast food does Shaq own? ›
Big Chicken is a fast-casual chain specializing in chicken burgers. Shaquille O'Neal is the founder of this restaurant. Big Chicken started in 2018 with a menu that features Shaq's “childhood favorites”.
Shaquille O'Neal is known around the world for his once-in-a-lifetime talent on the basketball court, but his collection of over 30 cars—including a custom Jeep Wrangler, Dodge Charger SRT Hellcat, and Lamborghini Gallardo—might just be the only thing that can rival his collection of basketball achievements.
Who has the largest purchase at Walmart? ›
Shaquille O'Neal claims to own the biggest purchase in Walmart history, and it's hard to doubt him. In an interview on HBO's "Real Sports," O'Neal said after the Miami Heat traded him to the Phoenix Suns in 2008, he didn't have anything for his apartment, so he turned to Walmart to get some essentials.
Who is the most underpaid NBA player? ›
Bane and Quickley have been among the most underpaid players in the NBA for two seasons now, but they won't be next year. Like all first-round picks entering their fourth season, they are eligible for rookie extensions this offseason.
Who is the biggest spender on Walmart? ›
Shaquille O'Neal is a man of big personality. Having the biggest purchase in Walmart history, though, takes his commitment to character to another level.
Does Shaq own big chicken? ›
Founded in 2018, Big Chicken is backed by a dream team of partners; JRS Hospitality, an accomplished Las Vegas-based ownership group; Authentic Brands Group, a multi-national, multi-billion-dollar brand development, marketing and entertainment company; and Hall of Fame basketball star Shaquille O'Neal.
What does Magic Johnson own? ›
Over the years, Magic Johnson Enterprises has continually invested ownership in many lucrative businesses such as the Los Angeles Lakers, movie theaters and restaurants in the United States, including T.G.I. Friday's, Sodexo, and Burger King locations.
How many stores and restaurants does Shaq own? ›
NBA legend Shaquille O'Neal is not only one of the greatest to ever play, but he is also one of the wealthiest. The way he got there was mainly due to smart business decisions. Shaq owns around 200 companies, 172 restaurants, and 40 fitness centers and has a net worth of $400 million.
Who is the highest paid Sacramento Kings player? ›
| Player Salaries |
|---|
| Player | 2022/23 | 2023/24 |
|---|
| De'Aaron Fox | $30,351,780 | $32,600,060 |
| Domantas Sabonis | $18,500,000 | $19,400,000 |
| Harrison Barnes | $18,352,273 | $0 |
22 more rowsCurrent Contract
| Contract: | 2 yr(s) / $2,400,000 |
|---|
| Signing Bonus | - |
| Average Salary | $1,200,000 |
| Free Agent: | 2016 / UFA |
Less than four years after siphoning off $30,000 in courtside signage, David had now stolen $13.4 million from the Kings and their top corporate partners. And nobody suspected a thing. FOR JEFF DAVID, the summer of 2017 was one of those times when the reality of a man's life surpasses even his dreams.
Home surrounded with activities
Shaquille O'Neal's new home is located at 4012 Sahara Court in Carrollton, Texas, per Redfin. According to the small town's official site, Carrollton is a suburban community just outside the city of Dallas.
Who owns Big Chicken in Vegas? ›
Big Chicken, a fast casual concept founded by Hall of Famer Shaquille O'Neal, is testing breakfast at its Las restaurant opening in Las Vegas at 9595 W Tropicana Ave., which is also the concept's first store to house a drive-thru.
Who owns Angry Crab Shack Las Vegas? ›
For a local couple, Rick and Dana Lopez, becoming Angry Crab Shack franchise owners was just the adventure they were looking for. Dana grew up in a business-centric family with several of her relatives owning local restaurants, clubs, and bars on the Las Vegas strip.
Why did Shaq sell his home? ›
More On: shaquille o'neal
The competitive housing market means O'Neal likely overpaid for the property significantly. According to the Dallas Morning News, which was the first to report the transaction, O'Neal's expansion of his Big Chicken restaurant chain in Texas was a factor in the purchase.
Why did the Kings leave Sacramento? ›
From 2006 to 2013, the Sacramento Kings organization was under constant threat of the team moving. It is widely believed that the former owners of the team (the Maloof family) lost much of their fortune and no longer were able to run a National Basketball Association (NBA) franchise.
Who are the minority owners of the Sacramento Kings? ›
The Sacramento Kings announced Friday owner Vivek Ranadivé and Arctos Sports Partners bought out the shares of minority owners Mark Friedman, Brad Jenkins, Mark Mastrov, Andy Miller and Kevin Nagle. Those minority owners helped Ranadivé take ownership of the Kings from the Maloof brothers in 2013.
How much did the Sacramento Kings sell for? ›
When the relocation fee is factored in, the final price for acquiring the Kings will be around $600 million. In addition, by moving to Seattle the Kings will get a richer local television deal. Seattle's metro area population is 3.3 million, more than a million people more than Sacramento.
Who did Shaq sell his brand to? ›
The Big Sale
“Through his bigger-than-life personality, he has turned himself into one of the strongest sports brands in the world.” When the NBA legend sold the management rights to his name and likeness to ABG in 2015, it did not come without immediate returns.
What business owns Shaquille O Neal? ›
Shaq has now entered the world of franchise ownership with Big Chicken, his fast-food restaurant, which serves chicken sandwiches in extra-large portions. Shaq oversees all aspects of this franchise and currently has ten locations. Shaq was the franchise owner of 17 Auntie Anne's pretzels restaurants.
Does Shaq own a house in Texas? ›
The former NBA star still maintains a home in the Los Angeles neighborhood of Ladera Heights, and a 14.3-acre compound 30 miles from Atlanta, according to the Dallas Morning News. However, the new home helps him stay close as he grows his food business in Texas.
Sacramento Kings' Sale to Group Led by Vivek Ranadive Unanimously Approved. A little under two weeks ago, the Sacramento Kings were sold to a group led by Vivek Ranadive with the intent of keeping the team in Sacramento. On Tuesday, that sale was unanimously approved by the NBA's Board of Governors.
Who bought the Sacramento Kings? ›
Sacramento Kings owner Vivek Ranadive has team back in the pure joy of the playoffs. SACRAMENTO, Calif.
Is Sacramento Kings moving? ›
The franchise will be playing the next couple of seasons in Key Arena, and in the meantime, a new $490 million arena will be built in downtown Seattle. The public will pay $200 million and that money will be payed back using ticket sales and rent money.
Who owns the Sacramento Kings 50 Cent? ›
The Sacramento Kings' owner and chairman, Vivek Ranadivé, spoke highly of the partnership, which is a part of the team's effort to support diverse businesses. "We are thrilled to partner with Curtis and bring Sire Spirits to Golden 1 Center for our fans and guests to enjoy," he said.
How much is the owner of the Sacramento Kings worth? ›
He has gone on to amass a fortune believed to be worth over $700 million by founding enterprise computing firm Tibco in the 1990s. A spokesperson for the Sacramento Kings, where Ranadivé oversees the club as chairman, declined to comment. Ranadivé is well-respected among fellow NBA owners.
Who is the richest owner of the NBA? ›
Clippers owner Steve Ballmer is America's richest sports owner for the eighth consecutive year, according to Forbes. Why it matters: It's not just that Ballmer tops the list; it's by how much. The former Microsoft CEO is worth more than four times as much as the next-richest NBA owner.
How many owners does the Sacramento Kings have? ›
| Sacramento Kings |
|---|
| Ownership | Vivek Ranadivé |
| Affiliation(s) | Stockton Kings |
| Championships | 2 NBL: 1 (1946) NBA: 1 (1951) |
| Conference titles | 0 |
19 more rowsPera, who bought the NBA's Memphis Grizzlies in 2012, is the youngest controlling owner in the league.
