It’s official! Shaquille O’Neal is tied to a billion-dollar deal!
As AFROTECH™ previously mentioned, O’Neal is the second-largest shareholder in Authentic Brands Group. This is the result of a 2015 deal that gave the company the rights to manage his name in merchandise and endorsements.
O’Neal explained the significance of the deal during a previous AFROTECH™ interview stating, “My Authentic Brands deal, I was able to ensure that hopefully I can stay around after I’m no longer on this earth. And I was walking down the street one day and looking at these Elvis cups and Elvis key chains and Marilyn Monroe, and I said to myself, ‘How are these people still making money for their families?’ They’re not even around. So, I found out how that business works, and I contacted two or three of those agencies and asked them if they were interested in partnering with Authentic Brands, and we’ve been doing major things.”
He added, “I’m now the second-largest shareholder in Authentic Brands Group, and last year our purchase was Reebok and Ted Baker and a couple other brands. So, we’re doing pretty well.”
Evidently the reach of Authentic Brands Group has only strengthened since then. It has officially closed on its acquisition of the Champion brand after announcing the agreement in April 2024.
The deal is worth $1.2 billion, “with the potential to reach $1.5 billion in performance-based earnouts,” according to a press release.
“Champion has set the standard for quality and innovation for over a century,” said Jamie Salter, founder, chairman and CEO of Authentic. “This acquisition marks a significant milestone, not just for Champion, but for Authentic as well. With the strong backing of our partners at GearCo, BBC and AMG Companies, we’re in a prime position to accelerate Champion’s growth globally. Together, we’ll honor its rich heritage while driving innovation and expanding its reach to new markets and consumers. We look forward to shaping the future of this iconic brand.”
Nick Woodhouse, president and chief brand officer at Authentic, commented:
“We are proud to welcome Champion to the Authentic family and tap into the brand’s unstoppable spirit. As the originator of the sweatshirt and a pioneer in activewear, Champion holds a legendary place in history. With a bold plan for the future, we’re ready to build on that legacy alongside our incredible partners, driving the brand forward and continuing to inspire athletes and active lifestyles for years to come.”
