Shaquille O'Neal, who purchased a minority ownership stake in the Kings in 2013, has officially sold his interest in the team, he announced Wednesday evening on social media.
O'Neal, 49, shared on Twitter that he had to sell his stake in accordance with NBA rules, as he is pursuing interest in the sports gambling space.
As a result of a new business endeavor, I was required by NBA rules to sell my interest in the Sacramento Kings. I want to thank the fans, the city of Sacramento, Vivek Ranadive and the entire Kings organization for our great partnership.