Even though the Ball family name is anything but flailing, one of its most homegrown brands could be on the verge of closing down.
Based on this report from ESPN, the Big Baller Brand could be closing up shop. Ramona Shelburne noted that the family talked about closing down the brand over the weekend. In addition, they also discussed shutting down any other businesses tied in with Alan Foster.
This comes after Lonzo Ball concluded his partnership with Foster. He said that he was using “his access to my business and personal finances to enrich himself.”
Foster has a 16.3 percent investment in the brand. There doesn’t appear to be any sort of option at the moment to buy him out.
LaVar Ball was responsible for the opening of the brand back in 2016, using national television to advertise it and saying it was on the level of the “big boys,” including Adidas and Nike. Lonzo Ball even turned down a shoe deal in order to headline a Big Baller Brand in its place. LaMelo Ball also has a signature shoe with it.
With Foster on board as co-designer and manager when it began, he serves an integral part of the business. But then the report of missing funds came up, with that particular partner to blame. Apparently back in 2002, he previously served time in prison for mail fraud and money laundering.
As of now, the company appears to still be open, with its website up and running. But things are still under consideration at the moment.