NBA legend Shaquille O’Neal recently shared his decision to turn down a lucrative $40 million deal with Reebok in a candid conversation on the Full Send podcast. O’Neal revealed that the incident that prompted his departure from the brand occurred when he was confronted by an unhappy parent who accused him of pricing his sneakers too high for young fans.
Today, Reebok is proud to officially report that longtime brand partner and legendary hall-of-famer, @SHAQ, as the President of Reebok Basketball. pic.twitter.com/nEw6aYnRv3
— Reebok (@Reebok) October 12, 2023
Shaquille O’Neal Passes on $40 Million Reebok Deal Due to Creative Freedom
In an attempt to address the parent’s concerns, O’Neal offered her $2,000 from his own pocket, but she dismissed his gesture and challenged him and his company to create more affordable footwear. This encounter proved to be a wake-up call for O’Neal, leading him to decline the multi-million dollar contract with Reebok.
Interestingly, Reebok has now appointed Shaquille O’Neal as the official President of Basketball, recognizing his status as an international sports icon and his longstanding support for the brand. In his new role, O’Neal will be responsible for leading Reebok’s strategies in the basketball sector, including forming partnerships with athletes and institutions to expand the brand’s influence and market share. Former NBA star Allen Iverson has also joined Reebok as the Vice President of Reebok Basketball, reuniting with O’Neal after their successful collaboration in the past.
O’Neal’s history with Reebok dates back to the 1990s when he introduced the iconic Shaq Attaq range in 1992. Throughout his NBA career, O’Neal consistently wore Reebok footwear and even designed several signature shoes. However, in 1998, Reebok cut ties with O’Neal as part of cost-cutting measures.
Following the separation, O’Neal partnered with Walmart to release a line of shoes priced predominantly under $30. These affordable Shaq-branded shoes have been immensely successful, with Walmart selling over 400 million pairs by 2021.
Now, as the President of Reebok Basketball under the Authentic Brands Group (ABG), O’Neal assumes a pivotal role in the brand’s efforts to regain prominence in the elite basketball market. Reebok’s strategic shift comes after it was acquired by ABG for $2.46 billion in 2021.
With Allen Iverson also joining Reebok as the VP of Reebok Basketball, the brand is poised to make a strong comeback. Reebok’s CEO, Todd Krinsky, praised the appointments, highlighting O’Neal’s deep connection with the brand and his significant impact on the game. Krinsky believes that O’Neal and Iverson are the perfect candidates to restore Reebok’s rightful dominance in basketball.
Read More: LeBron James Anoints Anthony Davis as New Face of the Lakers Franchise
O’Neal’s decision to decline the $40 million Reebok deal not only demonstrates his commitment to addressing the concerns of fans but also showcases his desire for creative freedom. As the new President of Reebok Basketball, O’Neal will have the opportunity to shape the brand’s future in the sport he loves, while Allen Iverson’s presence adds another layer of expertise and experience to Reebok’s resurgence in the basketball market.