Shaquille O’Neal acquired a deal with the doughnut brand Krispy Kreme based in Atlanta as an owner and a global spokesman. The NBA on TNT broadcaster has been an avid fan of the doughnut company for numerous years.

“In addition to Shaquille’s status as a sports and entertainment icon and businessman, he is known for spreading joy, which aligns with our positioning and mission,” President and CEO of Krispy Kreme Tony Thompson said in a statement. “We are confident this partnership will have a big impact for us in Atlanta and around the world.”

In 2009, as O’Neal continues with his “ShaqLtye” diet, he produced a music video to exhibit that he relished the company’s doughnut.

“Krispy Kreme prides itself on spreading joy and supporting local communities, and that’s a cause that I am thrilled to be a part of,” O’Neal said. “Our goal is to help people find their happy place, and what better way than with a box of delicious doughnuts.”

Authentic Brands Group (ABG) is thrilled about O’Neal joining in Krispy Kreme as a global brand ambassador

The NBA Hall of Famer has marketed his majority rights to Authentic Brands Group (ABG), one of the world’s biggest brand management companies that oversee his name for merchandise and endorsements. The deal that O’Neal entered with the ABG should generate between $230 to $270 million, according to Forbes.

“When you think about iconic global brands, Krispy Kreme is on the very short list of those that transcend their industry to reach consumers on a personal level,” President and CMO of Authentic Brand GroupNick Woodhouse said in a statement.

“We are excited to partner with Krispy Kreme to amplify its voice and efforts in supporting non-profits and growing its global presence worldwide.”

O’Neal learns from his business mistake in the past

JAB Beech, the holding company of the first-class retail coffee brands (including Keurig, Peet’s and Caribou) acquired Krispy Kreme for $1.35 billion.

O’Neal admitted that he made abusiness mistake for turning down a deal offered byStarbucks CEO Howard Schultz for the rights to open the coffee brand past. As an alternative, Howard granteda deal to former NBA great Magic Johnson, who returned his 105 Starbuck franchises to the company worth approximately $70 million.

"I looked at the great Howard Schultz's face and said, 'Black people don't drink coffee, sir, I don't think it's gonna work," O'Neal said last year. "And you should have seen the look on his face."

O’Neal is the minority owner of other food businesses

In addition to the deal with Krispy Kreme, O’Neal is an investor who possesses food businesses, including Five Guys and Auntie Anne’s Pretzel Shops. He has endorsement deals with brands, including Reebok, Icy Hot, Gold Bond and The General.

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