Shaquille O’Neal.Photo: Jared C. Tilton/Getty
NBA legendShaquille O’Nealis regretting one of his paid partnerships.
The 50-year-old TNT analystdefended his participation in a commercial for the failed cryptocurrency company FTX afterhe was named in a lawsuitalongside other celebrities likeTom BradyandGisele Bündchen.
“A lot of people think I’m involved, but I was just a paid spokesperson for a commercial,” O’Nealtold CNBC Make It.
O’Neal admitted he wasn’t fully aware of what he was promoting with the company or the success of cryptocurrency in general.
“I don’t understand it,” he said of cryptocurrency, and said he “will probably stay away from it until I get a full understanding of what it is.”
After FTX’s collapse, O’Neal said that cryptocurrency “is too good to be true,” according to his own “experience” with the trend.
Along with relying on celebrity testimonials, the company also had the naming rights to the FTX Arena in Florida, home to the NBA’s Miami Heat.
A representative for the NBA teamtold ESPNrecently that FTX signage would be removed from the arena in the near future.
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“The reports about FTX and its affiliates are extremely disappointing,” the county and team said in a joint statement. “Miami-Dade County and the Miami HEAT are immediately taking action to terminate our business relationships with FTX. We will be working together to find a new naming rights partner for the arena.”
FTX also had previous sponsorship deals with the Golden State Warriors and the Washington Wizards, in addition to naming rights to a Formula One racing team, per ESPN.
source: people.com
