Let me just start out by saying, WHAT AN IDIOT! I don’t blame Lonzo but I also don’t feel bad for him. This all stems back to Lavar being way too invested in his life and living through his son.
They gave Alan Foster, a known scammer 16.3% of the company and boy did they pay for it. $1.5M to be exact. According to an ESPN article, LaVar has said this guy was the one who helped convince him to give Lonzo his own signature shoe rather than sign with a more established shoe company.
By doing the Big Baller Brand venture as a rookie, Lonzo passed on pursuing a traditional shoe deal that could have been worth $15 Million over 5 years, according to several brand sources.
Absolutely no chance the Ball family gets back the money but I don’t think they will really miss it either. Congrats to Alan for getting away with it for 10 years though. Guy is one hell of a friend, right Lavar?