Big Baller Brand may be facing a major shakeup. According to ESPN, Lonzo Ball has cut ties with Alan, the company’s co founder and business manager for the Ball family businesses, after concerns that about $1.5 million could not be accounted for.
ESPN’s Ramona Shelburne and Paula Lavigne reported that Lonzo’s financial adviser raised the alarm last fall, warning that taxes could not be filed on time because the money was unaccounted for. Lonzo said he left the matter in the hands of his father, LaVar Ball, but it was not resolved. ESPN also reported that questions about Alan’s criminal history came up in recent months.
In a statement to ESPN, Lonzo said Alan “used his access to my business and personal finances to enrich himself,” adding that he has decided to sever all ties effective immediately. LaVar called the situation devastating. ESPN reported that Alan owns 16.3 percent of Big Baller Brand, which was founded in 2014, and that it is unclear how the business ties will be handled. No response from Alan was included in ESPN’s report, and these claims have not been proven.
Now the family is reportedly considering what comes next. According to ESPN, they discussed over the weekend the possibility of shutting down business ventures linked to Alan, starting with the apparel line. For now, merchandise is still available on the brand’s website.
