Involved in $1,250,000,000 Business Deal with David Beckham, Shaquille O?Neal Set to Add another feather to his Cap

The NBA superstar Shaquille O’Neal has turned everything he has touched into gold. After a decorated NBA career, the 4x-NBA champion multiplied his hard-earned fortune on the back of shrewd business strategies. O’Neal has invested in a plethora of business ventures and reaped the benefits out of it. Just like the Lakers legend, the soccer legend David Beckham is also an avid investor. As it turns out, Shaq and Beckham have added a new feather to their caps as the business interests of the two stars have converged.

Shaquille O’Neal became a shareholder in the Authentic Brands Group in 2015 when the company bought rights to his personal name brand. Likewise, David Beckham also shook hands with the company in 2022. As per a recent update from ABG, business is likely to boom for the sporting icons.

Shaquille O’Neal and David Beckham to be part of a billion-dollar deal

The Authentic Brands Group owns numerous established brands like Reebok, Nautica, Forever 21, and so on. “A BlackRock-managed private equity firm and basketball and football stars Shaquille O?Neal and David Beckham are just a few of the big-name shareholders behind US giant Authentic Brands Group (ABG), which is poised to buy the parent of famous surf brands Billabong and Quiksilver,” a report on Financial Review said.

The company is set to acquire the action sports and lifestyle company Boardriders for a hefty sum of $1.25 billion. After taking control of the target company, ABG will use $740 million of the said sum to repay Boardriders’ debt to Oaktree Capital Management.

Boardriders is the parent company of global surf brands like Quiksilver and Billabong. Moreover, other key brands like Roxy, RVCA, DC Shoes, Element, VonZipper and Honolua also come under Boardriders. The company generates a whopping $2.29 billion in annual retail sales. ABG’s acquisition of Boardriders is set to be completed by the end of the third quarter.

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AGM manages the brand names of both Shaquille O’Neal and David Beckham and the two stars hold shares in the brand management giant as well. Moreover, DJ Diesel is the second largest individual shareholder in the Authentic Brands Group. AGM had acquired the luxury fashion retailer Ted Baker last year, now the acquisition of Boardriders means a boom in business for Shaq and Beck.

Shaq’s friendship with David Beckham

The two superstars of their respective sports have crossed paths way before becoming the shareholders of Authentic Brands Group. Shaq and Beck have surprised the sporting community numerous times by attending parties and having dinner together. Moreover, Beckham always sends warm wishes to the Lakers legend on his birthday.

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Adding an interesting episode to this warm friendship, the 4x-NBA champion once pulled a prank against the Manchester United legend. The Big Aristotle was once strolling on the walkways of the Beverly Hills. He stopped when he saw a wallet on the floor. DJ Diesel was bewildered to find out that the wallet belonged to the legendary David Beckham. Shaq was quick to pull a prank. He called Beckham and demanded a million dollars in ransom.