In the summer of 1996, the basketball world was buzzing with excitement as one of the NBA’s biggest stars, Shaquille O’Neal, became the hottest free agent on the market. The Orlando Magic, his former team, and the Los Angeles Lakers were both vying for his signature. But what made this story truly sensational was the incredible pursuit of Shaq’s signature. Orlando executives went to great lengths, post the Lakers’ $120 million offer, chasing his agent and even his girlfriend with a then franchise record of $115 million. This remarkable story unfolds from the pages of ‘Shaq Uncut’.
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However, in a historic moment, Shaquille O’Neal signed a groundbreaking seven-year, $120 million contract with the Los Angeles Lakers, choosing LA over his beloved Orlando Magic, the team that had drafted him, even though they were his first choice.
Orlando’s determined chase to re-sign Shaq
Orlando Magic executives were on a mission to keep Shaq in their fold despite the Lakers having one foot in the door. Their pursuit reached extraordinary heights as they chased Shaq’s agent, Leonard Armato, and even his girlfriend, Olympic beach volleyball star Holly McPeak.
In a final desperate attempt to make the most out of the situation, they flew to Atlanta, where Armato was with McPeak. On a sandy beach, they presented an offer of $115 million to Shaq.
However, it became clear that Shaq had already made up his mind to join the Lakers despite having a brilliant run with the Magic. He took them to the Finals but could never really get over the hump due to a multitude of reasons. The primary one was the fact that he couldn’t share the limelight with Penny Hardaway. He wanted to be the main option and he wanted to get paid like one.
An excerpt from the book that perfectly encapsulates the situation,
“Armato was already in Atlanta with his girlfriend, the Olympic beach volleyball star Holly McPeak. DeVos hedged a bit at the request. Earlier that day he’d told an Orlando Sentinel reporter, “If they are trying to squeeze another million or two out of this, then the Lakers can pay it.” He was sick and tired of the whole back-and-forth. But, with DeVos’s grudging blessing, Gabriel and Bob Vander Weide, the team president, made the 1-hour, 25-minute flight to the Peach State and found Armato in the sand by a lake, decked out in T-shirt and sweatpants and collecting the errant balls his love hammered over a net. Gabriel was wearing a suit and tie. He walked across the beachy surface and told Armato the Magic would pay Shaquille O’Neal $115 million. The agent listened, but didn’t really listen. It was too late.”
This meeting on the beach, with Magic executives in suits and Shaq’s agent in casual attire, marked the climax of a high-stakes drama. The offer was made, but it was a moment of finality.
As the Magic executives walked away, the words of Gabriel, one of the executives, summed up the situation: “Thanks for nothing,” he said, to which Armato replied, “Why do you say that?” Gabriel’s response was candid and prophetic: “Because I know it’s over.”
While the Magic chased the impossible dream of keeping Shaq, it was a brilliant move by Jerry West where he traded Anthony Peeler and George Lynch in a crunch situation to make cap space that ultimately secured them their superstar and paired him with a young and promising Kobe Bryant. However, he made a shocking demand to his former team.
Shaq’s audacious $150 Million demand
In the lead-up to this pivotal moment, Shaquille O’Neal stunned the basketball world with a bold demand. He had asked for an astonishing $150 million to stay with the Orlando Magic, a figure that sent shockwaves through the league and attracted significant ridicule from the Magic fan base. It wasn’t a non-negotiable ask but a starting point.
This demand highlighted Shaq’s belief in his own worth and signaled a significant shift in player salaries in the NBA. Shaq paved the way for players to fight for what they were worth, ushering in a new era where players control the narrative.
In the early hours of July 17, 1996, at 2:15 a.m., the deal was sealed. Shaquille O’Neal committed to the Los Angeles Lakers for a groundbreaking $120 million over seven years, marking the largest contract in the history of professional basketball and we all know what happened post that.
