On Friday, news dropped of Lonzo Ball severing ties with co-founder of Big Baller Brand and family friend Alan Foster amid allegations of Foster’s link to roughly $1.5 million. While the story includes plenty of details about Foster’s past, which includes a prison sentence for separate charges of mail fraud and money laundering, it also includes other information, including the fact that Ball is the majority owner of Big Baller Brand.
From Ramona Shelburne of ESPN:
According to incorporation documents filed in Wyoming obtained by ESPN, Lonzo owns 51 percent of Big Baller Brand, and his father, 16.4 percent. Lonzo’s mother and Foster each own 16.3 percent.
Lonzo being the majority owner of the brand is both a new fact and a very interesting fact. Considering how closely Big Baller Brand’s success is tied to Lonzo’s success, it makes sense that he would have both the largest stake in the company and the majority of the ownership.
LaVar and Tina owning a combined 32.7 percent also shouldn’t come as a surprise. Foster, though, owning the remaining 16.3 percent is eye-opening and raises questions going forward. With many of the arrows pointing to Foster as a guilty party in this situation, his share in the company will certainly be removed.
His stake could be divvied up between Tina and LaVar, giving Ball’s parents 49 percent of the company and Lonzo 51 percent. Lonzo himself could also ask for more stake in the company and, given the fact it is his money that has gone missing, it wouldn’t be too out of the question. There’s also the possibility that LaMelo, who has become a big draw in his own right with a bright future.
Regardless of what the future holds, the present is messy with lots of questions ahead and certainly a lot for Ball, still just 21 years old, to go through.
