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Shaquille O'Neal is one of the richest athletes in the world and he expressed his interest in being part of the NBA's plans for expansions to Las Vegas. Two cities are in the mix to get an NBA franchise, and one of them is Las Vegas, which the four-time NBA champion is keeping an eye on.
For years, the NBA has always wanted to expand the number of teams in the league, but since the pandemic happened, those plans were postponed. Now that the league is gearing up and raking in revenue again, we could see teams in Las Vegas and Seattle very soon.
Having sold his minority stake with the Sacramento Kings, O'Neal looks to own another NBA franchise, and if given the chance to own an NBA team in Las Vegas, he would like to take full ownership.
“I know Vegas hasn’t been awarded an NBA team yet but if they ever get to a point where they are awarded a team, I would like to be a part of that. I don’t want to partner up with nobody. I want it all for myself.”
The formal expansion procedure is not expected to take place in the next few years, according to Adam Silver. However, it already appears probable in the foreseeable future that the league will introduce new teams in Las Vegas and Seattle as the most likely locations to have a new NBA franchises.
Shaquille O'Neal's other business ventures
As of 2022, Shaquille O'Neal stands among the five wealthiest NBA players with a net worth of $400 million and he owes his success to various investment ventures. The big man started investing in stocks and ventured out to real estate to assist Orlando homeowners from foreclosure.
O'Neal expanded his business portfolio by partnering with Boraie Development and also got into the technology realm by investing in startups like Google and Loyale3 Holdings. Ince, with facilitated small-scale investments in IPOs.
Other entrepreneurial ventures that O'Neal has in his portfolio were in the food industry as he acquired and sold Five Guys restaurants, Auntie Anne's outlets and endorsed Krispy Kreme.
However, it was not all success for O'Neal as he faced challenges being a spokesperson for FTX and faced bankruptcy in 2022. Shaq is currently facing some class-action lawsuits for promoting unregistered securities.
His last known investment was organizing Shaqtoberfest, a Halloween event in Long Beach in 2022.
