Shaquille O'Neal has confirmed he has sold his stake in the Sacramento Kings in order to pursue other business interests.

The NBA legend, who spent the majority of a decorated career at the Los Angeles Lakers and the Miami Heat, became a partial owner of the Kings in 2013.

However, he confirmed on Twitter on Wednesday that he has been required to sell according the NBA rules due to his desire to begin a new business venture.

"As a result of a new business endeavour, I was required by NBA rules to sell my interest in the Sacramento Kings," the 49-year-old posted. 

"I want to thank the fans, the city of Sacramento, Vivek Ranadive and the entire Kings organization for our great partnership.

"I loved being an owner of such a forward-thinking organization and I hope to be back someday. Till we meet again..."

The four-time NBA champion made the announcement shortly before his former Lakers were beaten 125-116 by the Kings in Sacramento.