NBA star Shaquille O’Neal is nostalgic for Reebok’s heyday in the ’90s, when he had an endorsement deal with the brand. “I want to bring them back,” he says. Photo by Lisa Lake/Getty Images for Reebok
Source: Shaquille O’Neal says he wants to buy Reebok
It’s not exactly Shaq alone as he wouldn’t have the money to pull off an acquisition like this. Reebok is still a billion dollar company and Shaq’s net worth is considerable, but this would be a partnership where a group could come in with enough money to satisfy adidas in the initial stages with additional payments to complete the purchase (my thinking is that Shaq and a group will make an initial payment and continue making payments on Reebok to adidas as opposed to dropping 3.8 Billion at one time).
Shaq’s interest isn’t whimsical. Athletes have begun to earn more money and they’re excelling at business at a much higher rate than any other time in the history of sports, their portfolios read like smaller versions of Berkshire. There are athletes who are minority owners in sports teams, franchise owners of restaurants and even Michael Jordan was the man behind one of my favorite record labels, Hidden Beach (remember Jill Scott’s debut album? Thank MJ).
Earlier this year I wrote a post discussing Reebok:
Adidas Acquired Reebok in 2005 | A Team of Athletes Should Acquire Reebok in 2019
In this post I said,
The entire time adidas saw their rise and now their decline, Reebok has been treated as an afterthought. I think that the right team and the right vision could jumpstart Reebok and that should begin with athletes making an offer to purchase the brand. adidas needs to recenter and focus. Reebok needs to begin a year long celebration of its history, but that will never happen as long as adidas owns the brand and that’s a shame.
While I get that Jay Versace, Victoria Beckham and Cardi B have considerable followers and that influencers reach the intended audience, when I walk in a store I can’t find Reebok. When I watch sports I can’t find Reebok. When I watch music videos I don’t see Reebok. When I browse YouTube I don’t see Reebok.
I think it’s time for an athlete centered Reebok to return to the table and the ownership of the company should reflect that.
Jade Scipioni’s article confirms what I suggested and shows that this isn’t just a thought from me for the sake of introducing a thought. An ownership team led by Shaq would deliver a major sneaker company headed by an African American at a time where reports are beginning to surface again about diversity in the sneaker world. Reebok would benefit and by default the sneaker industry would benefit.
