Shaquille O’Neal Looking to Purchase Reebok

It’s common for professional athletes to go broke after leaving the game. According to Sports Illustrated, in 2009 60% of NBA players go bankrupt within five years of retiring. However, there are some retired athletes who thrive after retirement. This includes NBA hall-of-famer Shaquille O’Neal. During his highest paid year on the court, Shaq earned $27.7 million. However, he’s making even more than that now that he’s retired. Shaq’s investment portfolio includes restaurant franchises, gyms, car wash companies, Sports Illustrated magazine and partnerships with Papa John’s and Carnival Cruise. Now, the big man has his eyes set on purchasing another company: Reebok.

In June 2019, while appearing at a Carnival Cruise event Shaq said, “Well, [one of the companies] I’m involved in, we just bought Sports Illustrated, but I would love to purchase Reebok.” O’Neal has worked with the shoe brand since 1992 and says that he wants to save the brand, disagreeing with the direction their parent company, Adidas, has taken after purchasing it. Shaq said that Adidas has “diluted [the brand] so much to where it’s almost gone. If they don’t want it, let me have it. I want to bring them back to basketball and fitness.” If it happens, Reebok will most likely become a multibillion-dollar deal, since Adidas bought the company in 2005 for $3.8 billion.