Shaq: I can help homeowners fight off foreclosure

Florida Foreclosure News

Mayor Shaq Making himself at home behind the desk of Orlando Mayor Buddy Dyer, who was away on vacation, Shaquille O’Neal makes a trip downtown Tuesday to meet city officials. (City of Orlando)

Mark Schlueb |Sentinel Staff Writer

Shaquille O'Nealsays he wants to build a legacy -- literally -- in Orlando.

NBA star said he is working on plans for real-estate-development projects in Orlando, with an eye toward helping those who are facing foreclosure on their homes.

"I want to come in not to kick them out, but to work with them and save them so they can stay in their homes," O'Neal told the Orlando Sentinel during an impromptu stop Tuesday at Orlando City Hall.

Attorney Mark NeJame, who arranged the visit along with longtime friend and Realtor Curtis Cooper, said the star center wants to buy the mortgages of homeowners who have slipped into foreclosure because of high interest rates. He would sell the homes back to those troubled buyers with more affordable terms, hoping to make a small profit.

"He's become a businessman with a conscience," NeJame said, adding that Shaq might also develop an affordable-housing project. "He's looking to find out where he can make a significant investment in Orlando -- specifically downtown Orlando -- but also all over Central Florida."


Details still shaping up

O'Neal said he isn't ready to share details of his plan and simply wanted to introduce himself to key players in city government.

"This isn't the big powwow meeting," he said. "I just wanted to say, 'Hi, this is my group, and we're interested in helping.' "

At City Hall, O'Neal posed for photos with star-struck city commissioners and economic-development staffers. Mayor Buddy Dyer was out of town on vacation, but O'Neal did have his picture taken in the mayor's chair.

It wouldn't be O'Neal's first foray into real estate. In 2006, he announced the formation of The O'Neal Group to pursue commercial and residential development. At the time, the new company said O'Neal had amassed a real-estate portfolio valued at $50 million during his time in the NBA.

His ventures range from carwashes and strip malls to a financial stake in Metropolitan Miami, a luxury development under construction in downtown Miami that will include what's billed as the tallest residential tower south of New York.

He is also a partner in the 24 Hour Fitness chain, and there are plans for one of the gyms to anchor part of the SoDo mixed-use development being built south of downtown Orlando.

So far, most of his development interests have been elsewhere, including Atlanta and New Jersey. O'Neal said he wants that to change.

O'Neal, traded to the Phoenix Suns in February, began his NBA career with the Orlando Magic. He maintains a mansion in Isleworth and has made no secret of his desire to return to Orlando when he retires.

More than once, he has said he would like to be sheriff of Orange County.


Reality TV another idea

O'Neal said he's also interested in developing a television reality show based on his Orlando development plans that he would call Shaq's Big Save, a sequel to a 2007 weight-loss show Shaq's Big Challenge.

Helping to bankroll the venture shouldn't be a problem. O'Neal is paid $20 million a year by the Suns, and industry experts suggest he earns at least that much annually from endorsements.

O'Neal found a receptive audience at City Hall.

"It was not very detailed, but I what I heard sounded good," Commissioner Phil Diamond said. "They made a point of saying they are not going to ask the city for money, so I was pleased with that."


Mark Schlueb can be reached at mschlueb@orlandosentinel.com or 407-420-5417. 

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