Shaquille O’Neal made serious money during his 19-year NBA career. Over a quarter of a billion dollars, to be more specific. That might not necessarily seem as impressive when viewed through today’s lens, where players such as Shai Gilgeous-Alexander can make that in a single contract. But back in the 1990s, Shaq’s earning ability was mind-blowing.
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After four years in Orlando as a member of the Magic, Shaq left to become the latest in the Lakers’ long line of Hall of Fame centers. His first deal in L.A. paid him $120 million over seven years. But long before the Lake Show blessed him with nine figures, he already had the purple and gold on his mind when thinking about his first pro deal.
The Big Diesel appeared on the Off the Record podcast on Tuesday, where he recalled his childhood ambition. Shaq told hosts Bailey Jackson and Lachelle Smith that when he was a kid, he was inspired by the landmark contract Magic Johnson signed in 1981.
“When I was coming out of high school, I wanted to make $8 million for 10 years,” Shaq said. “Because that’s where the money was. Magic signed that $25 [million] for 25 [years], and I was like, ‘Damn, a million a year’.”
After he was drafted out of LSU with the first overall pick, Shaq was able to command much more. “I think I was the first to sign a long-year deal with the option of three or four [years] to renegotiate. So when I met with my agent, he said, ‘Man, Imma ask for $70 million’,” he said.
In disbelief at the high number, Shaq responded, “‘What did you say to me?'” His agent responded, “‘You always start high’.”
After a bit of negotiation, Shaq signed an option-laden deal worth $40 million over seven years. That still paled in comparison to what he was able to get once he reached free agency. Shaq remembered his agent telling him, “‘You’re gonna be the first $100 million player’.”
That didn’t quite turn out to be true, as Juwan Howard and Alonzo Mourning signed $100 million deals just before he did in July of 1996 (though Howard’s deal with the Heat was voided by the league, he did sign a $100 million deal with the Bullets in August).
It still worked out OK for Shaq, as the Lakers came calling with an offer he couldn’t refuse. He remembered being “at a strip club during the Olympics” when his phone rang with a promising development. “I get to the hotel, Jerry West is in a Versace pimp coat, he said, ‘Man, I got some good news for you’.”
West slid a piece of paper across the table to his future center. “All I saw were zeroes,” Shaq recalled. “I was like, ‘What is this?’ He’s like, ‘120 for seven, and after four you can renegotiate again’. So now I’m already pre-thinking, ‘S***, if I’m getting 120 now, next one I’m gonna get 180’.”
Not only did Shaq get a monster payday, he also was able to join forces with incoming rookie Kobe Bryant, whom he says West talked up by saying, “I just signed this kid out of Charlotte. Pshhh… you and him…”
Kobe had been drafted by the Hornets but was immediately traded to the Lakers, and the rest was history. Shaq and he teamed up to win three straight titles before eventually splitting in 2004.
Whoever said you can’t have it all must have never met Shaq. In the end, he got the money, the titles, and the fame that came with it.
Shaq is still going strong as a dominant presence in NBA media as a part of Inside the NBA. And then there is his ubiquity as a podcast host and guest and a prolific corporate pitchman.
