Shaquille O’Neal, a retired NBA champion turned sports activities commentator, says that he’s very curious about shopping for out Reebok. Shaq was drafted by the Orlando Magic in 1992, and has since made greater than $300 million from his NBA wage and varied endorsement offers.
As a long-time serial entrepreneur, Shaq has invested in a number of franchises and reportedly owns 155 5 Guys eating places, 17 Auntie Anne’s, 9 Papa John’s, 40 24-hour health gyms, and 150 automobile washes. In response to CNBC, he has additionally profited fairly a bit from early investments in Google and Apple.
Throughout a latest interview after candidly mentioning that he is part of the funding group that simply bought Sports activities Illustrated, he additionally instructed CNBC that he would like to buy Reebok.
Why select Reebok?
Shaq signed his first shoe take care of Reebok in 1992, which was value $15 million. He says although that Adidas, who at present owns Reebok, has “diluted [the brand] a lot to the place it’s virtually gone.”
“In the event that they don’t need it, let me have it,” Shaq mentioned. “I need to deliver them again to basketball and to health.”
He added that Reebok struggles to compete with manufacturers like Adidas and Below Armour, and he thinks he is aware of methods to repair the issue.
If Reebok is up on the market, it might be pricey – positively a multi-billion deal regardless that their precise worth at present is unknown. However Shaq can simply afford it. In response to Forbes, he himself is value $400 million and his portfolio is value as much as $eight billion.