Papa John’s is now hoping that Shaquille O’Neill will help save the company and restore its reputation.
It’s been reported that Papa John’s will pay O’Neal $8.25 million in a combination of cash and stock over the three-year endorsement deal, while the NBA legend will also invest $840,000 for a 30 percent stake in the company-owned Atlanta restaurants.
“We are thrilled to partner with Shaquille and welcome him to the Papa John’s board,” Papa John’s recently said in the press release. “Shaquille has an excellent entrepreneurial background, including as a restaurant franchise owner, and is a natural creative marketer.”
Shaq himself recently announced the news on Instagram, writing “Time for a pizza party! I’m excited to join @PapaJohns as a member of the Board of Directors and as an investor in nine stores in #Atlanta.” Additionally, the 4x NBA champion and the 15x NBA All-Star will also become the brand ambassador for the pizza chain. It should be noted that O’Neill is no stranger to the restaurant business, having owned 27 Five Guys Burgers and Fries locations in addition to a current Krispy Kreme Doughnuts franchise in the Atlanta area. In addition to all that, he also owns a fried-chicken restaurant in Las Vegas and a fine-dining restaurant in Los Angeles.