Shaq, Allen Iverson return to Reebok as president and vice president of basketball

Shaquille O’Neal adds another business venture to his list and will be returning to Reebok as the president of basketball, while Allen Iverson will serve as the vice president of basketball.

Reebok made the announcement as the shoe company aims to rebuild its reputation in team sports after leaving Adidas and being acquired by Authentic Brand Group for $2.46 billion in 2022.

Reebok executives said the company plans to fully re-launch Reebok Basketball in early 2025.

“Al is a founding father of Reebox Basketball and has left a lasting impact on the game and its surrounding culture,” O’Neal said to Boardroom.

In his new role as President of Basketball, Shaq will lead strategy, partnerships, and relationships with athletes and organizations in order to expand the Reebok basketball brand.

O'Neal has a history with Reebok, having launched the brand's first signature shoe, the Shaq Attaq series in 1992. However, he parted ways with the shoe company after an incident where he was confronted by a woman when leaving the Orlando Magic facility after a practice, which ultimately led to his decision to leave the brand.

In an episode of the Full Send Podcast, Shaq revealed that a woman had accused him of overcharging young fans for his shoes and questioned why he didn't make more affordable options. Initially surprised by her comment, Shaq realized that she was right and decided to take action.

That very day, he said he cut ties with Reebok and started his own affordable shoe company.

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Shaq is not new to the shoe game

Upon leaving Reebok in 1998, Shaq partnered with Walmart to start his own “The Dunk Man” affordable shoe brand that ultimately sold 400 million shoes. The shoes were priced between $19 and $29, and were sold in almost every Walmart in the country.

“It’s not that kids don't want to wear $20 shoes, they don't want to wear shoes that look like they cost $20,” Shaq said on the podcast.

Shaq reconnected with Reebok in 2012 to relaunch his signature shoe in retro fashion.

Reebok said it aims to honor and incorporate the legacy of basketball legends beyond their playing days and that is reflected in bringing Shaq and Iverson on board in big roles.

Shaq's business ventures

Other than spending his time breaking basketball records at Louisiana State University, Shaquille O’Neal used what he learned from his business courses to successfully build an impressive business portfolio. A large sum of his $400 million net worth comes from the franchises he is involved or has invested in.

O'Neal has gained recognition for his involvement in franchising restaurant brands. He has owned and sold a total of 155 Guys Burgers restaurants, 17 Auntie Anne's Pretzels restaurants, nine Papa John's Pizza restaurants and a few Krispy Kreme donut shops. In addition, he is a brand ambassador and a member of the board of directors for Papa John's since 2019.

Outside of restaurants, Shaquille O'Neal's business portfolio includes a diverse range of brands, from insurance to gyms. He owns 40 24-hour Fitness centers, 150 car washes, and has investments in The General Insurance, Lyft, Google, Ring Camera, Gold Bond and Icy Hot to name a few.

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This article originally appeared on USA TODAY: Shaq and Allen Iverson take on Reebok Basketball leadership roles