Report: Lakers' Lonzo Ball Cuts Ties With Big Baller Brand Co-Founder Over Missing $1.5M

Lonzo Ball told ESPN that Alan Foster, who is a longtime family friend, "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."

Lakers guard Lonzo Ball has cut ties with the co-founder of Big Baller Brand after concerns of his criminal past and the whereabouts of around $1.5 million from Ball's personal and business accounts, reports ESPN's Ramona Shelburne and Paula Lavigne.

Ball told ESPN that Alan Foster, who is a longtime family friend, "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."

According to ESPN, Foster owns 16.3% of Big Baller Brand and he's served as the business manager of all of the Ball family companies. It's unclear how the business ties would be handled. Big Baller Brand was founded in 2014, and LaVar Ball has said it was Foster's idea to create a company instead of signing a contract with other brands. 

ESPN reports that concerns were first raised last fall when Lonzo's financial adviser alleged that Lonzo's and Big Baller's taxes could not be completed on time since he couldn't account for $1.5 million. Lonzo expressed concerns to his father over the past months but "deferred to LaVar to manage the situation," according to ESPN. LaVar fully looked into the warnings and emails from Lonzo's financial adviser this week. In a statement to ESPN, LaVar called the situation "devastating."