Shaquille O'Neal has
sold the rights to his future business endeavors to one of the biggest brand
management companies in the world.
Authentic Brands Group
will announce Thursday that it has acquired the rights to manage O'Neal's name
in both the merchandise and endorsement world. Terms of the deal were not
disclosed, though sources say O'Neal will retain a significant stake of his
business future.
With the deal, Shaq
will now be part of a company that has made its name recently by licensing the
names of Marilyn Monroe, Elvis Presley, Muhammad Ali and Michael Jackson, all
of whom are part of the ABG portfolio.
"We're thrilled to
have a true business partner in Shaq," said ABG president and chief
marketing officer Nick Woodhouse. "Through his bigger-than-life
personality, he has turned himself into one of the strongest sports brands in
the world."
The 15-time All-Star
and four-time champion, who made almost $300 million over his 19-year NBA career
on the court, now makes more money off the court than he did in endorsements
when he was playing. Earlier this year, Forbes projected that O'Neal would make
$21 million in 2015.
O'Neal has put an
emphasis on selling affordable items with his name on them. His shoes, which
often retail for less than $20, sell more than 2 million pairs a year at
Wal-Mart. His suits at Macy's often sell for less than $300. His jewelry
collection at Zales mostly ranges from $100 to $500 per piece.
"My dad said to
me, 'Remember, there are more of us than them," O'Neal told ESPN.com on
Thursday. "And what he meant by that is that there are fewer millionaires
and rich people than there are poor people. A lot of people can't afford $150
shoes, and that stuck with me."
Over his career he has
endorsed more than 70 products, yet companies can't seem to get enough of him.
He has a deal with Icy
Hot, which began in 2002, that runs through 2016. In 2013, Arizona Beverages
launched a soda line with his face on the can, which has now been extended to a
fruit punch.
After being picked
first by the Orlando Magic in the 1992 draft, O'Neal signed a deal with Reebok.
When that expired in 1998, he began selling shoes on his own website. Through
trial and error, O'Neal came to understand he needed not only a shoe partner but
also brick-and-mortar stores.
He and those partners
have now sold more than 100 million pairs of shoes. Not only did O'Neal say
he's surprised at the success of his line, he also said an LSU professor would
be too.
"I started to
develop my logo in a branding class I had at LSU," O'Neal said. "I
actually got an 'F' on the project because my professor said big men had never
sold shoes before."
O'Neal also benefited
from being one of the early adopters of social media. In 2009, while still
playing for the Phoenix Suns, he was the fifth-most-followed person on Twitter.
The deal does not
include a stake in O'Neal's contract with Turner Sports for his appearance on
its TNT studio show "Inside The NBA." O'Neal re-upped with the
network after four seasons this year. The deal also does not include his small
stake in the Sacramento Kings.
The deal was brokered
by Perry Rogers and Colin Smeeton of PR+ Partners, who have represented O'Neal
since 2001.
Darren Rovell ESPN
Senior Writer
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