Shaquille O’Neal’s venture in $2.9 billion pizza chain came marred with controversy

Shaquille O’Neal is drawn to investments, but his collaboration with Papa John’s came after the organization was embroiled in controversy.

Shaquille O’Neal is one of the most famous NBA players of all time. Still, he’s also become a household name in the mainstream media thanks to his celebrity status. All of his multi-million dollar endorsement deals have played a big factor in his success in the business world.

According to Sports Illustrated, Shaq has had many endorsements over the years, including everything from a sleep apnea mask to Radio Shack, Zales, Nintendo, Taco Bell, and so much more.

O’Neal has a long history in the business world. The 7’1″ former basketball player studied business in college. He has used his knowledge in business ventures such as being Carnival Cruise Ship’s “chief fun officer” and a celebrity spokesperson for a variety of brand endorsements.

Many of his business experiences stem from the world of franchising, and his reported net worth of $400 million reflects his success in the industry.

The 49-year-old appears to have a soft spot for franchises. When asked by the Wall Street Journal why he found franchising so appealing, O’Neal replied, “It’s simply collaborating with another dependable, excellent brand. Being in business with other people and simply starting businesses.”

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Shaquille O’Neal’s investment in Papa John sparked controversy

O’Neal sparked controversy in 2019 after joining the board of directors of Papa John’s Pizza. The NBA legend is on the board of directors and will endorse Papa John’s. He has invested in some of the chain’s Atlanta locations.

According to federal securities filings, the pizza chain’s marketing portion of its endorsement contract will pay the former NBA center $4.125 million over three years.

In addition, Papa John’s agreed to grant O’Neal 87,136 shares of stock that will vest between 2020 and 2022.

A year before O’Neal announced his intention to join the board of directors of Papa John’s Pizza, the company’s founder, John Schnatter, found himself in hot water. According to Forbes, he was heard using the N-word during a conference call in 2018.

Despite the controversy, O’Neal accepted a position on the company’s board of directors. He also admitted that Schnatter’s comments were a huge mistake.

“Sometimes people don’t know when to keep their mouths shut,” he said of Schnatter in a 2019 interview with CNBC. “I’m not going to argue with this guy.” It makes no difference what he has said about me. I don’t mind. I’m determined to make [Papa John’s] the number one brand. We are not concerned about him. He has bigger issues.”

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