Former NBA star Shaquille O'Neal was introduced as an owner of the Sacramento Kings at a press conference Tuesday.
"This is an exciting day for me," he said. "We want to make Sacramento more of a global brand, create jobs downtown. We want to do a lot more." He was presented with a "Shaqramento" jersey.
Shaq owns between 2% and 4% of the Kings, a source told Forbes.
According to Forbes:
O'Neal's investment in the Kings, which is less than 5%, is likely as much a marketing ploy to help the team get their new arena than a financial maneuver for the former Los Angeles Lakers great."