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Shaq Reportedly Is Selling His Minority Stake In NBA’s Sacramento Kings as He Gears Up for New Partnership

There are reportedly some major changes being made to Shaquille O’Neal‘s massive business portfolio

According to Clutch Points, the former NBA superstar, who’s already the face of several brands, including The General, Gold Bond, and Papa John’s Pizza, recently landed a new deal to become a brand ambassador for the mobile sports betting app WynnBET.  

Shaquille O’Neal speaks during Pepsi Stronger Together and CTG Foundation Atlanta Law Enforcement Press Conference on April 07, 2021 in McDonough, Georgia. (Photo by Paras Griffin/Getty Images for Pepsi Stronger Together)

However, as part of his new deal, Shaq will be required to sell his minority stake in the Sacramento Kings, an estimated 2 to 4 percent of the NBA team reportedly worth $1.8 billion. When the former athlete became a partial owner, the team was valued at $534 million.

NBC Sports reports that during his initial news conference back in September 2013 as a part-owner, the former Los Angeles Lakers center celebrated by renaming the city Shaq-ramento. He also promised to work with some of the team’s stars and had plans to make the Kings a global brand.

“I always had dreams of being an NBA owner, especially when I seen Magic Johnson accomplish it, Michael Jordan accomplish it,” Shaq said at the time. “I knew, hopefully it would happen one day. I just had to wait for the right moment.”

As for his new deal, Shaq will be a brand ambassador and serve as a strategic consultant. In addition, the Hall of Famer will appear on advertising campaigns on television, digital, and print mediums in an effort to grow the brand’s popularity. “I love working with my friends at Wynn Resorts, and I am so excited to take WynnBET to new heights,” Shaq said about the partnership. “Mobile sports betting is having a major moment, and I believe that WynnBET will be a powerful force in the industry.”

Furthermore, Shaq will “attend in-person fan-facing events, create original content with WynnBET and interact as a guest with company media partners such as Blue Wire Podcasts, Cumulus Media and Minute Media. O’Neal will also be launching ‘ShaqPot,’ a Free To Play (FTP) game housed inside the WynnBET app.”

Wynn Interactive CEO Craig Billings said that the company was thrilled to expand our relationship with him through a partnership with WynnBET.” He added, “A successful businessman, NBA legend, and one of the most well-known personalities in sports media, we believe our players will enjoy interacting with him through the WynnBET app and are excited to feature Shaq in our advertising campaign set to debut later this summer.”

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