“Shaquille O’Neal sells his stake in the Sacramento Kings”: The NBA legend plans to pursue a business endeavor in the sports gambling industry

Hall of Famer Shaquille O’Neal announces he will no longer be part of the Sacramento Kings organization. The four-time champion wants to pursue a business endeavor in sports gambling.

After retiring from the NBA in 2011, Shaquille O’Neal made several strides in the business world. Over the years, the Lakers legend has made investments in various sectors, including tech, hospitality, FMCG, and clothing. O’Neal has a stake in Papa John’s, Five Guys, Lyft, Reebok, Barneys New York, JC Penny, and till most recently, an NBA team as well.

It was a sad day for the Sacramento Kings fans as Shaq withdrew his ownership from the franchise. The Lakers legend had purchased a minority stake in 2013. One of the main reasons for getting Shaq on board was making the Kings an attractive destination for players.

Big Diesel had to let go of his investment in the Kings to pursue a business endeavor in the sports gambling world. According to Sports Business Journal, O’Neal will be featured in sportsbook WynnBet’s ad campaigns and as the face of a new “ShaqPot” free-to-play prediction game as part of a deal that extends the retired superstar’s relationship with the Wynn Resorts casino chain.

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The fifteen-time All-Star shared a heartfelt message on Twitter, bidding goodbye to the Kings organization and fans.

Shaquille O’Neal sells his stake in Sacramento Kings.

After being associated with the Kings franchise for nearly a decade, Shaq decided to withdraw his stake. The Sacramento team has been one of the most unsuccessful teams in the NBA, holding the longest playoff drought of sixteen years. One believed Big Diesel being part of the franchise would turn their fortunes. However, they have continued to tank over the years as a team.

Shaq tweets a heartfelt message on Twitter regarding selling off his ownership stake.

“As a result of a new business endeavor, I was required by NBA rules to sell my interest in the Sacramento Kings. I want to thank the fans, the city of Sacramento, Vivek Ranadive, and the entire Kings organization for our great partnership. I loved being an owner of such a forward-thinking organization and I hope to be back someday, I was fortunate to have Arctos help me with this transaction. I’m sure they will be a great partner for Vivek, the Kings, and the NBA going forward.”

“Till we meet again.”

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