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Eyes Set on Buying Florida Based NBA Team, Millionaire Shaquille O’Neal Now Linked With $3,000,000,000 Deal

Published 05/28/2023, 6:11 AM EDT

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In the NBA, where charismatic figures dominate, few names radiate as boldly as Shaquille O’Neal. In October, the former Orlando Magic player expressed his desire to buy a Florida-based team, stating ‘I’m still looking to be an owner, and I’m interested in a certain team in Florida,’ before adding, ‘It’s not Miami.’ Till the big man makes that big decision, however, he has laid his eyes on another project.

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Recent reports reveal that Shaq along with rapper 50 Cent, has emerged as potential buyers in the high-stakes bid for BET Media Group.

An ambitious bid from Shaquille O’Neal


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This strategic move would not only establish the big man’s media influence but also open doors to a new avenue for Shaq to connect with his audience, through a platform that holds immense cultural significance. Rapper 50 Cent and NBA icon Shaquille O’Neal, along with other potential buyers like Sean “Diddy” Combs, are considering making an offer to buy BET Media Group which includes BET and VH1 networks.

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With a potential value of around $3 billion based on its yearly earnings. Bids for the company are expected to be submitted soon. Paramount Global, the current owner, has not commented on the potential sale. Tyler Perry, who has a close relationship with BET, expressed excitement about the opportunity, stating that it felt like a perfect fit for him. Perry has produced several shows and episodes for BET properties in the past year.


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Shaping the future of media

BET has been facing some financial difficulties because fewer people are subscribing to cable TV. Over the last year, BET’s subscriber base has decreased from 74.7 million to about 69.7 million, as reported by Nielsen Cable Universe. While specific details of the bid and the potential ownership structure remain under wraps, insiders reveal that the focus is on acquiring the prominent cable channel, BET.

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Byron Allen, who owns various television, production, and film properties including The Weather Channel, has expressed his interest in acquiring BET. He has previously emphasized the importance of Black ownership for BET. Allen expressed support for other potential buyers such as Tyler Perry, P. Diddy, 50 Cent, and Shaquille O’Neal, stating that he is rooting for Black ownership of both BET and VH1. He believes that a new owner for the company will be determined soon as multiple parties are moving swiftly with potential bids.

As the bidding process for BET Media Group unfolds, the unexpected entry of Shaquille O’Neal has sent shockwaves through the industry. With his passion, influence, and proven business acumen, the acquisition of BET Media Group could mark a turning point in the media industry, bringing a new wave of creativity, diversity, and captivating content to audiences worldwide.

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Written by:

Yusuf Khan


One take at a time

Yusuf is an NBA content writer at EssentiallySports. Yusuf has been an NBA fanatic since his childhood days. NBA experts such as Chris Haynes and Shams Charania are his go-to sources to stay updated about all the inside scoops from the hoop world.
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Edited by:

Jayant Chhabra