Shaq Sells Off Business Rights To His Name
Shaquille O'Neal has sold the rights to all his future business endeavors to a company who will manage his name moving forward.
According to ESPN, Authentic Brands has acquired the rights to manage O'Neal's name in both the merchandise and endorsement world. However, terms of the deal were not disclosed.
Shaq joins a company that has made its name by licensing the names of Marilyn Monroe, Elvis Presley, Muhammad Ali and Michael Jackson.
The NBA icon made almost $300 million over his 19-year NBA career on the court. But, in his post-NBA life, he makes more money off the court than he did in endorsements when he was playing.
Forbes projects that Shaq will make $21 million in 2015.
Shaq makes a lot of his money by selling affordable items he endorses, said the report. He has a shoe line, which retails for less than $20, and sells more than 2 million pairs a year at Wal-Mart. He also has a line of suits at Macy's that sell for less than $300, and a jewelry collection at Zales that 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 this week. "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."