Shaquille O’Neal Sold His Share of an NBA Team With Heavy Heart – Why Did NBA Rules Force Him to Do So?

Published 01/30/2024, 11:12 PM EST

Ownership in the NBA. An all-too-common point of emphasis and discussion, it became a prevalent trend thanks to Michael Jordan. Since then, multiple names have taken the baton like Magic Johnson, Dwyane Wade, and others. However, most of them have given up the position after some time. Whether it be greener pastures, disinterest, or lack of success, the mighty do fall. But, in the case of Shaquille O’Neal, the reason for his departure is rather complex.

Yes, you read that right. The Los Angeles Lakers legend who still preaches about wanting an ownership stake in a Florida-based team or alongside LeBron James in Vegas was once an owner in the NBA. But, before the fancy places caught his eye, the 4x NBA Champion had already taken on the role in some capacity.

Watch This Story: Father Of 6, Shaquille O’Neal Finds Himself Irked By One Child On Luxurious Bahamas Getaway

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The year was 2013 when O’Neal took over in a minority capacity for the Sacramento Kings. However, their marriage came to an end in just 9 years. Initially, speculation ran wild as to why exactly the two sides’ agreement ended. Opinions from lack of success to a falling out with majority owner, Vivek Ranadive, all made the rounds.

But the true reason was another venture popping up for the former MVP. While it was a painful decision for him, O’Neal had to shed away any connection to the ownership role thanks to the NBA’s rules and regulations. Due to his commitment to a brand ambassador role for the WynnBET sports gambling app, a direct conflict with ownership guidelines, the big man had to relinquish his duties.

With a stake in gambling and ownership of a team, it could be seen as a conflict of interest. So, the rule was put in place by the NBA. As a result, his stake was divested and he sold off all his stocks.

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The financials of the Shaquille O’Neal – Sacramento divorce

When he first took over the role, the Kings had an evaluation of $534 million. However, by the time he was forced to give up his stake, that number had skyrocketed to $1.9 billion. With the official value of a minority stake ranging in the 2-4% ballpark, the overall gain for O’Neal was massive.

In 9 years, the investment got him a profit in the $275-$550 million. Given that number, his insistence to return to that role makes complete financial sense as well. However, with WynnBET still going strong, perhaps he will once again have to make a difficult choice should such a situation arise.

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Would you like to see Diesel back in an ownership capacity in the NBA? Which place works best for him, Florida or alongside LeBron James?

Shaquille O’Neal Reveals How he Sold His Stakes of the Sacramento Kings With a Heavy Heart

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My earliest memories of a connection to basketball was through its popularity in my school. Eventually, that gave way to a genuine passion for the sport and the rest, is history. Whether it be gameplay, the tactics, the narratives, or the sheer art on display, the game speaks to me in a way few other things can.

Edited by:

Caroline Joseph

Shaquille O’Neal Sold His Share of an NBA Team With Heavy Heart – Why Did NBA Rules Force Him to Do So?

The financials of the Shaquille O’Neal – Sacramento divorce

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