Shaquille O’Neal had made waves in 1998 after leaving Reebok. Well, he’s back again. As an owner this time, however.
One of the most popular superstars to ever grace the court, Hall of Famer Shaquille O’Neal is no stranger to huge endorsement deals. Being the face of popular companies like Reebok, Pepsi, and Nestle, he has made an absolute bag during his long and illustrious career.
Well, it looks like the 4-time champion is seemingly not satisfied with endorsements anymore, and is making even shrewder investments. After revealing in an interview earlier how he was led to severing his ties with footwear giants Reebok in 1998, news has surfaced that he is buying the whole firm now.
Shaq had remarked earlier how Reebok shoes were not very affordable for the common fan, which was one of the main reasons he cut his deal short.
This could be a major loss to the former MVP as the deal was worth a whopping $40 million. This had not deterred him from starting his own line of shoes.
Shaq’s post-NBA career has been nothing short of amazing, with the legend seamlessly transitioning into the entertainment industry. One of the analysts on the wildly popular NBA on TNT, he has become an icon as a result of his exuberant personality.
Shaq’s extremely sharp business acumen, however, has only developed over the years, which can be observed from his smart investments.
His most recent deal has already made waves in the media. Authentic Brands Group (ABG), a group in which Shaq has shares, has agreed to buy Reebok for around $2.4 billion. This adds to the list of high-profile investments he had made in the past and has established him as a certified businessman.
NBA Twitter couldn’t help but marvel over the big move.
With Reebok as a company having such a grand history when it comes to the NBA and sneaker world, we hope to one day see them as one of the top shoe companies once again. And who knows, maybe we could get a few more retro models of the Shaqnosis as well.
