Shaquille O’Neal, known for his show-stopping performances, had a penchant for showboating even before his NBA debut in 1992. However, a lot of that also came from the fact that he was beyond confident he’d not only make, but also dominate the league. However, this was also the cause of the big man making moves that were beyond risky in college. 1 year before leaving LSU, Shaq boldly took out a $6,000 loan to purchase a car, a luxury far beyond his financial means at the time, and well before landing his eye-popping $17,400,000 contract.
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In his revealing book, “Shaq Talks Back,” the basketball legend disclosed that not even his parents could provide the funds to bail him out of the loan. O’Neal, who didn’t come from a wealthy background, desired to embody the image of the quintessential “All-American.” And while that may have proven to be an abysmal bet for 99% of the world, Shaq’s gamble of taking out a loan to acquire a pre-owned Bronco II paid off handsomely.
When the 1992 NBA draft arrived, O’Neal’s talents were recognized, and he was selected as the first overall pick. The Orlando Magic bestowed upon him a staggering $17,400,000 contract, instantly making O’Neal’s financial dreams a reality. This monumental payday allowed him to transcend his previous financial limitations and embark on a newfound journey toward prosperity.
A $6000 bet that paid off for a ‘ young’ Shaquille O’Neal
Shaquille O’Neal’s dominance on the college basketball court was unmatched, but he wasn’t content with simply showcasing his skills. The towering center had a penchant for impressing his peers, and he always found unique ways to do just that. Armed with his LSU Pell Grant money, which amounted to $500, O’Neal decided to make a statement by converting it into $1 bills and parading around campus with his newfound fortune. This extravagant display was a testament to his larger-than-life persona and his desire to leave a great impression. Here is what he said on the matter, in his book, ‘Shaq Talks Back‘.
“My work checks and my Pell grant check would be about $500. I would get three $100 bills and then two hundred $1 bills and make my money wad look fat. I’d stand in the middle of campus, just counting my chipparoos, and people would walk by.
‘Damn, Shaq’s getting paid’
It was all an act. When you’re All-American, you’re supposed to have the dopest cars, all the girls. Well, I didn’t have either but I wanted to make people think I did. I did have a used Bronco II in my junior year. I took out a loan to buy it for $6,000. Since I knew I was getting drafted, I figured I’d just pay it off when I got my money. My days of pretending were just about over.”
While some may have questioned his audacious move, O’Neal had bigger plans in mind. He had diligently saved up his money and used it as a stepping stone to secure a $6,000 loan. With this risky financial maneuver, O’Neal took a gamble. Coming from a modest background, he understood that there were no guarantees in the world of basketball.
However, fortune favors the brave and prepared. And so, O’Neal’s gamble paid off handsomely when he was selected as the first overall pick in the 1992 NBA draft. The Orlando Magic recognized his exceptional talent and rewarded him with a staggering $17,400,000 contract. The loan he had taken to purchase a Bronco suddenly seemed like a shrewd investment, paving the way for a very promising future.
O’Neal stayed in college a year longer to learn ‘ The ways of life’
Many have speculated as to what would have happen if Shaq would have been a one-and-done prospect. The ‘Diesel’, while addressing the same question, told a reporter at Turner that ” If I could do it again I would”. Take a look at the tweet by Amy Lee below.
Shaq stayed at LSU for extra year because of father’s financial advice. “He said, ‘Nah, you been broke for 18 years, you can be broke for 19 years’ So I would have to be mentally ready, physically ready, and I would have to know what I was getting into.”
https://t.co/W6qjwF2uYx— Amy Lee (@Amy_Lee380) February 19, 2019
O’Neal’s father believed that Shaq wasn’t mentally and physically ready for the NBA at the age of 18. And while it may not have pleased the big man much at the time, the advice has paid off very well since, as Shaq won Rookie of the Year at 19, and quickly set himself up for a Hall of Fame career to follow.
