According to inside sources, the Ball family has had discussions about nixing their company, the Big Baller Brand, after reports surfaced earlier in the week stating that the company’s co-founder Alan Foster allegedly played a role in stealing $1.5 million dollars out of Lonzo Ball’s personal and business accounts. The Big Baller Brand has already made headlines this week after a report surfaced saying that the Lakers may ask the company to make changes to Lonzo’s signature shoes, after concerns were raised stating that the design of the shoes may have played a role in the young point guard’s ankle injuries during the team’s 2018-2019 campaign. According to sources close to the situation, the Ball family is looking at closing the company and several other business dealings in order to completely sever all ties with Alan Foster.
Lonzo Ball has severed ties with BBB co-founder, Alan Foster, after reports that he has allegedly been unable to account for roughly $1.5M from Ball’s business accounts, per @ramonashelburne, @pinepaula & @malika_andrews pic.twitter.com/lwsYkNRAD3
— Bleacher Report (@BleacherReport) March 22, 2019
The Ball family reportedly learned about the missing money last fall after one of Lonzo’s financial advisors couldn’t complete a tax form because $1.5 million dollars was missing. This news comes just hours after Lonzo’s private Instagram account posted a photo which featured Ball in a Lakers’ uniform with a well-known Nike slogan beside of him. According to Bleacher Report, Lonzo’s manager recently posted a video in which he dumped a pair of ZO2s (Lonzo’s signature shoes) in a trash collection bin. The video also featured a caption which said “#dumpurmerch.”
Lonzo Ball’s manager posted himself throwing some BBB shoes in the trash 🚮👀 pic.twitter.com/U38UDNYMJJ
— Sports Illustrated (@SInow) March 25, 2019
Ball recently told ESPN that he believes that Foster, who had been a personal friend to Lonzo’s father for more than a decade, had “used his access to my business and personal finances to enrich himself. As a result, I have decided to sever all ties with Alan, effective immediately.”
— Matthew Moreno (@MMoreno1015) March 24, 2019
According to ESPN, this is not the first time Foster has been involved in criminal activity. In 2002, Foster was sentenced to just over seven years in prison after pleading guilty to one count of mail fraud and two counts of money laundering. Foster’s crimes where part of a scheme that defrauded 70 investors of $4 million. In that case, Foster was ordered to pay $3.7 million in restitution to the victims of his crimes. Currently, Foster owns 16.3% of the Big Baller Brand.