Former star NBA center Shaquille O’Neal has become the first ”President Reebok Basketball.” Another NBA star, Allen Iverson, will be serving as Vice President Reebok Basketball. O’Neal will be focused on player recruitment and business development, Iverson on player recruitment and such community initiatives as his annual Iverson Classic high-school showcase. Both will set the strategy for a relaunch of Reebok Basketball sometime in early 2025.
Speaking about his new role, Shaq shared, “We’re back, baby! Get ready.” Nick Woodhouse, President and CMO of Authentic Brands Group, added, ”This expanded partnership with Shaquille puts Reebok back in the game with a more active position than ever before.”
The initiative here seems to have come at least in part from CEO Todd Krinsky, who began his career in Reebok’s mail room in 1992 – the year Shaq signed his initial Reebok sponsorship deal. He was appointed to his current post in 2022 after Authentic finished acquiring Reebok from Adidas (for a final price of $2.46 billion).
As Krinsky told Boardroom, the usual arrangement is for brands to supply their endorsers with “product in perpetuity” and have them put in appearances at events. “With this,” however, “we’re actually bringing two of our legacy athletes together and having them be in real management positions within our company,” he said. “It’s a new move in our industry.” In 2015, as Boardroom reports, O’Neal decided against selling half of the future earnings from his likeness to Authentic and instead became the company’s second-largest shareholder. Iverson, meanwhile, struck a deal with Authentic in January to expand his brand and entertainment business.
Reebok and O’Neal said that in the coming months, they will disclose more details on its new strategy in basketball as it looks to return to the court in 2025 and beyond. Meanwhile, the brand is offering its current heritage basketball silhouettes as well as “Shaq for President” t-shirts.
