Shaquille O'Neal Finalizes The Sale Of His Ownership Stake In The Sacramento Kings

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by BA 143 Views comments - (Photo/Facebok) After all of the speculation, Shaquille O’Neal has officially sold his minority ownership stake of the Sacramento Kings. The basketball legend-turned-investor made the announcement on his Twitter page. “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 our great partnership. I loved being an owner of such a forward-thinking organization and I hope to be back someday,” O’Neal shared in a statement via Twitter. “I was fortunate 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. Till we meet again…”According to Sports Illustrated, Shaquille O’Neal purchased a share of the Kings back in 2013. However, it’s unclear how much the sale of his stake netted him in a profit.As AfroTech previously reported, Shaquille O’Neal signed a deal to become a brand ambassador for premier mobile sports betting app WynnBET that made him the brand’s new face.