We all know how committed LaVar Ball is to building the Big Baller Brand, and that means he is willing to take some huge financial risks with his sons’ futures. Those risks include — but are not limited to — turning down shoe deals worth $10 million.
In an appearance on “The Dan Patrick Show” Tuesday, ESPN’s sports business reporter Darren Rovell said Ball turned down $10 million endorsement contracts on behalf of his son Lonzo.
“It was strange to me that when the Lakers did get the No. 2 pick, LaVar didn’t at least fold some of his cards and go back to the shoe companies in earnest,” Rovell said. “The original deal that Nike, Adidas and Under Armour were going to offer Lonzo Ball would be five years, $10 million — $2 million per year. After the Lakers thing goes down and you have the opinion that he’s now in the perfect scenario, the new deal might be five years, $20 million just by virtue of what happened with the lottery. What does LaVar Ball do? Instead of saying he now wants $1 billion, he now wants $3 billion.”
With the Lakers having landed the No. 2 overall pick, it seems like a virtual certainty that Lonzo is headed to L.A. just like his old man predicted. While that could mean more opportunities for the Big Baller Brand, Rovell notes that it could have meant more guaranteed money up front.
“If you believe he’s going to the Lakers, he just could have made much more money — maybe doubled his deal on that alone — and he decided to pass. …I think it makes the story a lot more intriguing that he’s continuing to go along with the fact that he believes this could be a real brand,” Rovell added.
If Lonzo is drafted No. 2 overall, he will likely sign a contract worth about $10 million guaranteed for two years, with third- and fourth-year options for the team. By turning his nose up at a $10 million shoe deal, LaVar is really banking on his son not being a bust.
Of course, LaVar is looking to profit off of other very unique ideas, but the brand will only be as good as Lonzo is on the court. That’s a risk the Ball family is willing to take.
H/T The Spun
