The Alkaline Water Company Inc. recently announced that NBA legend Shaquille O’Neal will join the company as an equity partner, member of the company’s board of advisors and brand ambassador for Alkaline88, the company’s flagship product.
Alkaline Water Company is based in Scottsdale. The company, which describes itself as the largest independent alkaline water company in the country, went public in 2018 after its founding in 2012 by Steven Nickolas.
A filing with the Securities and Exchange Commission dated May 12 shows that Alkaline Water agreed to pay ABG-Shaq LLC, an entity affiliated with O'Neal, $3 million over three years as an endorsement agreement. The deal also includes millions of company shares for ABG-Shaq that vest over the life of the agreement.
“Shaquille O’Neal’s track record as a multiple-time champion and Hall of Famer has translated into similar successes in business and corporate partnerships. His reputation as an astute investor, larger-than-life brand partner, and phenomenal ambassador makes this partnership extremely exciting,” Aaron Keay, chairman of the Alkaline Water Company, said in a statement.