ESPN said O'Neal decided to move forward with the gesture after hearing about the death of 18-year-old Dexter Rentz, a senior at Ocoee High School near Orlando.
The shooting was reported shortly after 11:15 p.m. Saturday at Elese Street and Deerock Drive, near Raleigh Street and South Ivey Lane in Orlando, according to WFTV. Three others also were shot in the incident, but they are expected to survive.
An arrest has not been made in connection with the shooting. Orlando police have offered a $5,000 reward for anyone who may have information that could lead to an arrest.
O'Neal, who still lives in Orlando, decided to pay for all funeral expenses, including a horse and carriage and custom-made casket, after speaking with Rentz's parents, according to ESPN.
Rentz signed on to play for the University of Louisville in December.
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