Does Shaquille O’Neal Own Reebok? How The $2.4 Billion Purchase Brought Things Full Circle For Shaq

Shaquille O’Neal was one of the most marketable superstars in the NBA the second he entered the league in 1992. In fact, Reebok signed him to a $15 million deal that would run for a multitude of years in 1992, the same year that the Orlando Magic drafted him with their number one overall pick. 

Taking inspiration from Michael Jordan’s ‘Jumpman’ logo’, he would have shoes made by Reebok with him dunking as that was his skill when he was playing. These shoes would be a premier lines of basketball sneakers, going for hundreds of dollars. 

However, Shaq’s perspective on the pricing of his shoes changed when an angry customer cursed him out for their high price point. Shaq tried to calm her down with $2,000 but it wasn’t enough as she rejected the money. To solve this, ‘The Big Aristotle’ left Reebok altogether, leaving $40 million at the door.

Also read: “Luka Doncic Has to Do it All Himself!”: Shaquille O’Neal Explains Why the 23-Year-Old Star Has His Respect

Does Shaquille O’Neal own Reebok? 

It’s common knowledge by now that Shaquille O’Neal is one of the most prolific investors in the United States regardless of whether or not we’re comparing him to athletes or the general public. He’s done everything from buy fast-food joints to car washes in an attempt to master the art of passive income. 

One investment that has served the Lakers legend quite well is him being the second largest shareholder in a company that holds the rights to and owns the likes of Elvis Presley, JC Penny, Marilyn Monroe, and of course, Reebok. 

O’Neal is a major financial contributor to Authentic Brands Group. So, if the companies that are tied to ABG make a profit, Shaq gets a cut out of it every single time. This is why when Austin Butler’s ‘Elvis’ came out, fans were shocked to see that Shaquille O’Neal was somehow making profits from the movie’s success. 

Shaq and ABG were in a bidding war of sorts with the likes of Baron Davis and Master P to purchase Reebok in August of 2021. Eventually, the former duo won out as they bought them from Adidas for $2.4 billion.

Shaquille O’Neal now sells shoes at Walmart 

After the rude awakening he was given by that lady, he would ditch Reebok and have his shoes be sold at Walmart. They have since made $400 million in sales from his Shaq basketball sneakers. 

This is incredibly impressive given that the price point for these sneakers ranges from merely $19 to $29. So for him to sell that many pairs is no small feat by any stretch of the imagination.

Also read: Does Shaquille O’Neal Own Elvis? How The Lakers Legend Receives Royalties From Elvis Presley’s Earnings