NBA Legend Shaq Owned 17 Auntie Anne's Franchises – But Sold Them After Realizing 'Black people Don't Like Pretzels That Much'

Shaquille O'Neal is no stranger to making tough business decisions, but his explanation for selling his 17 Auntie Anne's franchises might be one of his most memorable. 

During an appearance on the Earn Your Leisure podcast in 2021, the basketball legend turned entrepreneur didn't sugarcoat his reasoning: "I sold my Auntie Anne's because Black people don't like pretzels that much. So I had to switch it up." 

One host jumped in, saying, "We eat the cinnamon ones," the other quickly backed him up with, "Yeah, yeah, yeah."

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But Shaq wasn't having it. He shot back, "Nobody eats no cinnamon pretzels." The crowd lost it, erupting in laughter. 

It's classic Shaq – honest, direct and laced with the wit that makes you stop and listen. While some might be surprised at his reasoning, the move reflects O'Neal's approach to business: evaluate the data, understand the audience and adjust accordingly. "At first, it was a good investment," he admitted. "But the numbers …" And just like that, the pretzel era of Shaq Inc. was over.

Shaq's business track record includes an impressive portfolio of investments, but not every deal hits the mark. Auntie Anne's, a staple in shopping malls across the country, was one of those ventures that didn't align with his vision. The sale wasn't just about the bottom line but about cultural relevance. O'Neal's willingness to be candid about market realities highlights why he's been able to pivot successfully in his career.

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This isn't the first time Shaq has made a bold call based on cultural insights. During an interview with journalist Graham Bensinger, he reflected on his decision to pass on Starbucks, which he now considers one of his biggest business regrets. "Howard Schultz wanted to do business with me," he recalled. "But growing up, I'd never seen a Black person drink coffee. I told him, ‘Black people don't drink coffee, sir.' You should've seen his face." Looking back, Shaq sees the missed opportunity as a valuable lesson. "It was a mistake, but I learned from it," he said.

While Auntie Anne's didn't work out, Shaq has found a winning formula in other food ventures. He's a franchisee of Papa John's, owning nine locations and serving on the company's board of directors. His involvement came after the brand's founder, John Schnatter, stepped down following a racial controversy. "For me, it was a great thing to do," O'Neal explained. "The guy just messed up, but he had to pay for that. Now I'm just gonna make sure it's right."

His commitment to Papa John's goes beyond ownership. In addition to helping improve the brand's image, he's worked to lower customer costs and signed an $11 million endorsement deal with the company. "One thing I would never do is sell my people out," Shaq emphasized. "If [Schnatter] was still involved, I wouldn't have touched it."

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O'Neal's decision to walk away from Auntie Anne's shows his ability to read the room – and the spreadsheets. The move wasn't impulsive; it was strategic. He's repeatedly proven that he knows when to stay and when to go, even if it means leaving behind 17 pretzel stands in search of a more promising venture.

With a net worth of over $500 million, Shaq's business instincts speak for themselves. Whether it's his early investment in Google or his ongoing partnership with Papa John's, he knows where to put his money – and when to take it out. 

For O'Neal, business is as much about understanding people as it is about profit. And if nothing else, his Auntie Anne's exit serves as a reminder that even the best ideas sometimes need a second look. Or, as Shaq would say, "You gotta switch it up."

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