Shaq Officially Out As Sacramento Kings' Minority Owner
SACRAMENTO (CBS13) — Shaquille O-Neal, pro-basketball hall-of-famer and one of the greatest players in the history of the game, announced Wednesday that he was out as a minority owner of the Sacramento Kings after nearly a decade with the organization due to a new business venture.
"As a result of a new business endeavor, I was required by NBA rules to sell my interest in the Sacramento Kings. I want to thank the fans, the city of Sacramento, Vivek Ranadive and the entire Kings organization for out great partnership," Shaq said in a message posted to Twitter.
Shaq announces he is out as a minority owner of Sacramento Kings. He made a big PR splash when he joined the team back in 2013 as Sac fought to prevent the team from moving to Seattle. Always wondered how much he actually invested? https://t.co/hmzVMLXR8t
— stevelarge (@largesteven) January 13, 2022
Shaq made a big splash when he joined the organization back in 2013 as the city fought to keep the team from moving to Seattle. He came in looking to mentor then-Kings big man DeMarcus Cousins and turn the team into a globally recognized brand alongside team owner Ranadive.
For a big part of his career as a player, Shaq was a key piece for the rival Los Angeles Lakers and the battles on the court between Sacramento and L.A. in the early-aughts.
Wednesday's announcement comes as the Kings face the Lakers for their final regular-season matchup during the 2021-22 season. Sacramento currently sits in 12th place in the Western Conference with a 16-27 record.
"I loved being an owner of such a forward thinking organization and I hope to be back someday. I was fortunate enough to have Arctos help me with this transaction. I'm sure they will be a great partner for Vivek, the Kings and the NBA going forward," Shaq's tweet read. "Til we meet again."