Shaquille O’Neal sold his stake in the Sacramento Kings, the NBA legend announced.
On Wednesday, O’Neal tweeted out that he is pursuing a new business endeavor and league rules state that he needed to sell his interest in the NBA franchise.
"As a result of a new business endeavor, I was required by NBA rules to sell my interest in the Sacramento Kings," O’Neal wrote.
"I want to thank the fans, the city of Sacramento, Vivek Ranadive and the entire Kings organization for our great partnership."
O’Neal continued: "I loved being an owner of such a forward thinking organization and I hope to be back someday…
I was fortunate to have Arctos help me with this transaction.
I’m sure they will be a great partner for Vivek, the Kings and the NBA going forward."
O’Neal became a part-owner of the Kings back in 2013.
The four-time NBA champion made the announcement on a night when one of his former clubs, the Los Angeles Lakers, met the Kings in Sacramento.
The Kings entered Wednesday's game at 16-27, tied for 12th place in the Western Conference with the New Orleans Pelicans.