Shaquille O'Neal is no longer a minority owner of the Kings / News - Basketnews.com

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Former NBA star Shaquille O'Neal is no longer a minority owner of the Sacramento Kings. O'Neal gave the announcement via Twitter, explaining that due to a new business endeavor, the NBA rules required him to sell his stake in the Kings.

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From O'Neal's post, it looks like he sold his stake to private equity fund Arctos Sports Partners, which specialized in acquiring minority stakes of sports professional teams.

The former Los Angeles Lakers superstar had become a minority owner of the Sacramento Kings back in 2013.

Indian businessman Vivek Ranadive remains the majority owner and chairman of the Sacramento Kings. He acquired the majority of the franchise back in 2013 from the Maloof family.

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