- Shaquille O’Neal joined a group of millionaires in an attempt to buy BET
- Shaq and his group were turned down after consideration
- O’Neal sends a message on Instagram after a massive $2 billion offer gets refused
Shaquille O’Neal made millions over his career in the NBA, but his earning on the court are dismal compared to what he’s made in the world of business. But in the aftermath of his failed bid to buy Black Entertainment Television (better known as BET), O’Neal took to Instagram to express his disappointment.
Shaq, who is valued at roughly $400 million, joined 50 Cent and Tyler Perry to make a $2 billion offer on the network, which has emerged as a popular viewing option for families all across the country.
We don’t know exactly what role O’Neal would have played for BET, but as a man of culture and influence, it’s likely he and his group could have brought great success to the network.
Unfortunately for Shaq, however, his group was turned down by Paramount Studios, who don’t feel like their offer was enough to justify the sale.
“Paramount notified bidders late Wednesday night about its decision to conclude the BET Media Group sale process, said a person familiar with the decision who was not authorized to speak publicly,” reported USA TODAY this weekend. “The person said the company determined maintaining a heavy stake in BET creates more value for Paramount than any of the proposals after consulting with a couple of highly-experienced financial advisors.”
Shaq already has his hand in several business projects, including large investments in Lyft, JC Penny, Reebok, and up to 40+ other companies.
Will Shaq Become A Governor Again?
All of this news regarding BET comes in the aftermath of Shaq’s sale of the Kings. No longer an owner in the NBA, many fans are wondering if he’ll ever be back in the league with that role again.
As we know now, Shaq only sold his stake because league rules wouldn’t let him own a team while also associating with betting groups.
Nobody knows if Shaq will re-claim his place as a team owner in the future, but there’s no doubt that Lakers fans would love to have him on the franchise in some capacity. Only time will tell if that dream lives on for him, but he’s probably already looking for his next financial opportunity.
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