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Mark Cuban Sold His Majority Stake In The Mavericks But Would Reconsider Owning Another Team If It’s Alongside Shaquille O’Neal

Team ownership is not completely off the table for billionaire Mark Cuban. Cuban was former majority owner of the NBA’s Dallas Mavericks since 2000, purchasing stake in the team for $285 million, mentioned Fortune. At the time, he felt he was at an advantage due to his knowledge in technology and media. However, in recent years he recognized a shift towards real estate as necessary to be successful in team ownership. As a result, he chose instead to sell most of his stake to the Miriam Adelson family, controlling shareholder of Las Vegas Sands Corp., in December 2023 in a deal valued at $3.5 billion. He now maintains a 27% stake in the Dallas Mavericks and is in control of its basketball operations as well as serves as the alternate governor, according to the NBA. “When I first bought [the Mavericks] in 2000 I was the tech guy in the NBA. I was the media guy. I had every edge and every angle,” he explained on the “All-In Podcast.” “Now fast-forward 24 years later. In order to...

Oct 10, 2024

Authentic Brands Group, With Shaquille O'Neal As Its Second-Largest Shareholder, Finalizes Its $1.2B Purchase Of Champion

It’s official! Shaquille O’Neal is tied to a billion-dollar deal! As AFROTECH™ previously mentioned, O’Neal is the second-largest shareholder in Authentic Brands Group. This is the result of a 2015 deal that gave the company the rights to manage his name in merchandise and endorsements. O’Neal explained the significance of the deal during a previous AFROTECH™ interview stating, “My Authentic Brands deal, I was able to ensure that hopefully I can stay around after I’m no longer on this earth. And I was walking down the street one day and looking at these Elvis cups and Elvis key chains and Marilyn Monroe, and I said to myself, ‘How are these people still making money for their families?’ They’re not even around. So, I found out how that business works, and I contacted two or three of those agencies and asked them if they were interested in partnering with Authentic Brands, and we’ve been doing major things.” He added, “I’m now the second-largest shareholder in Authentic Brands Group,...

Oct 4, 2024

Shaquille O'Neal Sacrificed And Took A Pay Cut As A Miami Heat Player, Leading The Team To Their First NBA Championship In 2006

Shaquille O’Neal says he took a pay cut while playing for the Miami Heat. The NBA Hall of Famer played for the team for four seasons, between 2004 and 2008, according to Sports Illustrated. Previously, he was a three-time NBA champion with the Los Angeles Lakers, where he played alongside his teammate Kobe Bryant. O’Neal’s tenure with the Heat was accompanied by a decision that cost him $20 million, he explained on “The OGs” podcast. He recalls a conversation with former Lakers head coach Pat Riley, that presented him an ultimatum surrounding his salary. “Pat came in and he said, ‘Shaq I love you. I can give you the whole 120 [million] and we can have nobody, or I can give you 100 [million],'” O’Neal said. “‘Give UD some more money. I can bring in Posey. I can bring in GP. I can bring in all them guys.'” O’Neal decided to take the pay cut because he was purely motivated by his desire to win. He added, “And I was like, ‘You know what. I need to win. Cause I gotta win one before Ol’...

Sep 18, 2024

Shaquille O'Neal Claims He Once Lost A Multi-Million-Dollar Deal For Saying The Earth Was Flat

A controversial conspiracy theory reportedly led Shaquille O’Neal to lose a $20 million deal. O’Neal has a track record of hitting gold in business. It’s why he has supposedly amassed $500 million, per Celebrity New Worth. Some of his wise moves include his Big Chicken restaurant franchise, which can be found in California, Nevada, New York, Texas, Washington, and on the seas thanks to two Carnival Cruise ships, a press release notes. Most recently, Big Chicken celebrated its grand opening in the Dallas, TX, area in Fort Worth, now marking its fifth franchise location in Texas. View this post on Instagram A post shared by Big Chicken (@bigchickenshaq) One can also look to his success in the investment world. He invested in Google and unintentionally struck gold. In fact, it was by “accident” that he even invested in the tech company. As AFROTECH™ previously reported, he spoke with a prominent investor who was talking about Google at the Four Seasons. The conversation led to a...

Sep 9, 2024

Shaquille O’Neal's Son Shareef Says He’s Glad His Dad Trusted Him To Help Rebrand Reebok

Shaquille O’Neal had one favor to ask his son Shareef after becoming Reebok’s president of basketball. Shaq’s Return To Reebok As AFROTECH™ previously reported, Shaquille’s history with the athletic footwear and clothing brand began in 1992, the year he was also drafted to the NBA. He released shoes such as the Shaq Attaq and Shaqnosis, but in 1998 he chose to walk away from the $40 million deal to start his own brand with Walmart so he could offer more affordable shoes for kids. In October 2023, he returned to Reebok sporting a new hat as its president of basketball. He is now responsible for the company’s basketball category strategy and nurturing partnerships with athletes and organizations. Shaquille quickly got to work, playing a role in Angel Reese opting to sign a name, image, and likeness (NIL) deal with the company, while she was attending LSU. Even after being drafted to the WNBA by the Chicago Sky, Reese’s relationship with the brand has only progressed as she now has her...

Sep 3, 2024

Shaquille O'Neal Confirmed To Be A 'Seller' For Astrals NFT Project In A Class Action Lawsuit

A class action lawsuit continues to loom over Shaquille O’Neal. As AFROTECH™ previously reported, he was named in a class-action lawsuit filed against the Astrals Project, which he created alongside Music Manager Brian Bayati, who serves as the CEO, and his son Myles O’Neal, who is the head of investor relations. They launched to the public the “Shaq Signature Pass,” a non-fungible token (NFT) series that was labeled as the “first consumable NFT of its kind, and the signing technology is one that we think will have wide-ranging applications.” Coindesk mentions Astrals consisted of 10,000 NFT 3D avatars and a decentralized autonomous organization (DAO) for “incubating innovative projects” with the Galaxy token serving as the governance token. In a class action filed in Florida federal court in 2023, it stated the project was in violation of securities law as the company sold unregistered Astrals tokens, according to The Hollywood Reporter. Investor Daniel Harper, who allegedly lost...

Aug 21, 2024

Shaquille O’Neal Foundation Receives Nearly 5 Acres That Will Be Used To Provide Academic and Career Resources For Las Vegas Youth

A donation has been made to the Shaquille O’Neal Foundation to benefit the youth. According to the Las Vegas Review-Journal, Clark County commissioners in Las Vegas, Nevada, have approved a vote to donate a 4.81-acre parcel of vacant land to the Shaquille O’Neal Foundation to build a new Boys & Girls Club. The Clark County location is projected to cost $16 million and will “provide youth with academic and personal development resources,” according to the Las Vegas Review-Journal. Additionally, it aims to support college and career readiness opportunities. At the time of this writing, it is unclear when the foundation will break ground on the project. However, once the new Boys & Girls Club is complete, the foundation’s obligations will include providing Clark County with annual reports on what programs are available, insights on fundraising efforts, and logistics regarding how many clients it has serviced, The Blast reports. The Shaquille O’Neal Foundation was created in 2019 to...

Jul 8, 2024

Shaquille O'Neal Said He'd Be Opening 50 Big Chicken Locations In Texas In 2022, But What State Is He Heading To Next?

Shaquille O’Neal is taking his restaurant franchise talents to Nebraska. The former NBA superstar-turned-serial entrepreneur has announced that his fast-casual restaurant franchise, Big Chicken, will expand to the Omaha market, according to KETV Omaha. O’Neal plans to open two Big Chicken locations in Omaha, led by father-son duo and local entrepreneurs Tom and Zak Davis. “Our experience has provided us a perspective on Big Chicken that we feel fantastic about. We know that it is the right time to bring the quickly growing brand to Omaha,” said Tom, per KETV. “There are a lot of parallels for us with Big Chicken and its leadership team. We have a deep appreciation for running great restaurants, and Big Chicken’s team is equal to the match. We have been following the growth of Big Chicken for a while, and once we were finally able to try the menu, we decided to get serious about opening our own stores in Omaha.”   View this post on Instagram   A post shared by Big Chicken...

Jun 27, 2024

Shaquille O'Neal Is Giving 500 High School Students A Chance To 'Try College' For Free

Shaquille O’Neal’s new educational initiative is underway. As AFROTECH™ previously reported, O’Neal learned of the efforts of Tade Oyerinde, who founded and leads accredited online community college startup Campus, while reading a Forbes article about him. The startup had received a $29 million funding raise in 2023 with OpenAI CEO Sam Altman and Discord Founder Jason Citron leading its Series A funding round. “Shaq saw the Forbes article and had his team reach out, and he was just like, ‘This kid raised all this money from these guys.’ He thought it was unbelievable,” Oyerinde told AFROTECH™ at the time. O’Neal was so impressed that he wanted to get involved in Oyerinde’s mission. He is now an investor in the company and, most recently, is kicking off Campus’s latest initiative. According to a press release, O’Neal and Campus.edu plan to provide 500 high school students and recent graduates with access to business courses taught by college professors from top colleges and...

Jun 11, 2024

Ray J Reveals Shaquille O’Neal Invested $1.5M In His Music Career

Shaquille O’Neal once invested in Ray J’s music career. During an interview on Shannon Sharpe’s podcast “Club Shay Shay,” the R&B singer-turned-entrepreneur reveals he received $1.5 million from the former Los Angeles Lakers basketball player to support “Sexy Can I,” the first single from his 2008 studio album “All I Feel.” The single featuring Yung Berg would go on to become a top 10 hit on Billboard. O’Neal saw a big return on that investment , Ray J says on the podcast. “He gave us $1.5 [million] for the ‘Sexy Can I’ project, which was the ‘All I Feel’ project, and ‘Sexy Can I’ was the record to lead off. It sold 8 million copies,” Ray J told Sharpe. “We recouped the number back for Shaq, and I don’t know five months, six months, and everything else has been profitable ever since, so shout out to Shaq.” He added, “If you look at the ‘Sexy Can I’ video, you see Shaq in the video. He’s the one with the camera.” Photo Credit: YouTube/ MNRK Music Group O’Neal has distinguished...

Jun 10, 2024

Shaquille O'Neal's Big Chicken Restaurant Is Making Its Way To His Home State

Shaquille O’Neal’s Big Chicken is heading to his home state of New Jersey. As previously reported by AFROTECH™, the former basketball-player-turned-serial- entrepreneur became a co-owner of Big Chicken in 2018 and opened the first location in Las Vegas, NV, alongside his friend Matt Silverman and agent Perry Rogers. Since, thanks in part due to its popular menu items including chicken tenders, various chicken sandwiches, crinkle-cut French fries, and mac n’ cheese, the business has proven to be a success and has adopted a franchise model. View this post on Instagram A post shared by 312 Craves (@312craves) Big Chicken signed a 20-unit development deal in partnership with H&D Group Investments to expand to Michigan in 2023, Franchise Times reports . Prior, a 50-unit deal had been signed to open storefronts in Texas, with locations already springing up in the city of Houston and nearby Richmond. It can also be found in California and on Carnival Cruise ships. View this post on...

May 17, 2024

Why Angel Reese Says She Chose A Multi-Year Endorsement Deal With Reebok Instead Of 'Easily' Signing With Nike

Angel Reese is in high demand. The WNBA player, who is signed to Reebok under a multi-year endorsement deal as of October 2023, shares that she had the option to sign with other shoe brands such as Nike, a familiar pattern among various greats, including Michael Jordan, LeBron James, Serena Williams, and Kevin Durant. “I wanted be a priority ’cause I could have signed easily with Nike,” Reese says in a resurfaced video shared on X, formerly Twitter. “I could assign easily with Jordan. But like everybody doing that. I don’t like doing what everybody do. I like to do the complete opposite. I’m bringing Reebok back.” View this post on Instagram A post shared by Reebok (@reebok) As AFROTECH™ previously reported, Reese’s signing with Reebok was the company’s first major Name, Image, and Likeness (NIL) deal. In her post, Reese shares that it will open doors for her own signature shoe to be released in the near future. She also credits her relationship with Shaquille O’Neal, who serves as...

May 8, 2024

Authentic Brands Group, With Shaquille O'Neal As Its Second-Largest Shareholder, Agrees To Buy Champion In $1B Deal

Shaquille O’Neal’s Authentic Brands Group (ABG) deal continues to pay off. As AFROTECH™ previously mentioned, O’Neal’s agreement with the brand management company in 2015 allowed the group to profit from his name and likeness in merchandise and endorsements. The Hall of Famer joins its roster of other prominent names such as Marilyn Monroe, Elvis Presley, Muhammad Ali, and Michael Jackson. “We’re thrilled to have a true business partner in Shaq,” Nick Woodhouse, ABG president and chief marketing officer, told ESPN at the time. “Through his bigger-than-life personality, he has turned himself into one of the strongest sports brands in the world.” In return for signing onto the deal, O’Neal became ABG’s second-largest shareholder, and to date he credits this as his turning point in business. “My Authentic Brands deal, I was able to ensure that hopefully I can stay around after I’m no longer on this earth,” O’Neal explained to AFROTECH™ . “And I was walking down the street one day and...

Apr 24, 2024

Before His Lifetime Reebok Deal That Will Land Him A $32M Check, Allen Iverson Reveals He Could Have Been The First Signature Athlete To Sign To The Jordan Brand

Allen Iverson grew up loving Jordan shoes, and he almost could have signed with the brand. During an interview with Complex, the basketball legend expresses feeling enamored with Michael Jordan and always desiring to sport his shoes. Little did the Hampton, VA, native realize, he would not only grow up to land his own shoe deal before his rookie season in the NBA but he would be in talks for a signature sneaker with the Jordan Brand. Sports Illustrated mentions that when Iverson was drafted to the NBA in 1996, he caught the attention of every major sneaker company. The Jordan Brand even created a prototype named after Iverson’s nickname “Bubba Chuck” to entice him. Had he signed to the Jordan Brand, he would have became its first signature athlete, Sports Illustrated reports. However, Iverson found Reebok to be the most convincing in its pitch. “Remember that like it was yesterday because that was a big decision for me,” Iverson told Complex. “Just looking back on it, I feel good...

Mar 5, 2024

How Shaquille O'Neal Turned A Visit To Carnival Cruise Line Into Another Home For His Chicken Franchise

Perhaps there is no off-limit terrain for Shaquille O’Neal, who is also taking over the seas! Among O’Neal’s various business ventures, he founded Big Chicken, a fast-casual restaurant that debuted in Las Vegas in 2018. While the the former basketball center has multiple ventures, he says he only pursues opportunities that he believes can change people’s lives, he previously told AFROTECH. “I try not to base everything on a monetary value,” he said. “I get a lot of deals. ‘Wear the shirt, put your name on it, we’ll sell it.’ I like investing in things that’s going to change people’s lives. I heard Jeff Bezos say that once, and that’s how he invests. So, I follow the strategy, and it’s been working very well for me.” Launching Big Chicken makes perfect sense for O’Neal. He grew up eating various chicken dishes made by his mother, Houston Press reports. “This is my creation—Excuse me, this is my mama’s creation. Coming where we come from, me and this little guy had to eat chicken a...

Feb 28, 2024