Is Lonzo Ball Net Worth Greater Than His Dad LaVar’s?
Lonzo Ball has been taking the basketball world by storm. Many believe that he’s going to be the superstar to watch in upcoming years. As fascinated as everyone is with Lonzo, many are equally interested in his father, LaVar Ball.
LaVar had a short career in professional football. Today he is head of his own business and spends a great deal of time sharing his thoughts about his son, basketball, and everything else. His appearance at Lakers games garners nearly as much attention and Lonzo’s playing. Many find themselves wondering if Lonzo Ball’s net-worth is greater than his dad’s.
Lonzo Ball’s net-worth
It’s reasonable to assume that Lonzo Ball isn’t pawing through is couch cushions and looking for spare change just so he can buy a few days’ worth of groceries. If he plays his cards right, the 22-year-old basketball player won’t ever find himself worrying about money.
The bulk of Lonzo Ball’s net-worth comes from the salary the Lakers paid him. He was the second player drafted in 2017 and the Los Angeles Lakers first choice. It didn’t take long for Lonzo to work out a $33 million dollar contract that is spread out over four years.
The way the contract works, Lonzo gets a bigger salary each year. During his first season with the Lakers, Lonzo was paid just a few dollars short of $7.5 million. During the 2021-22 season, he will make nearly $15 million. One thing that has changed, though. During the summer, Lonzo was traded to New Orleans.
Most of us would be over the moon if we knew we were going to make $33 million during a four-year time span, but that salary only accounts for a portion of Lonzo Ball’s net-worth. Even before signing with the Lakers, Ball didn’t have to worry about money. Thanks to his dad, LaVar Ball, shoe brand, even before he signed with the Lakers, Lonzo’s net-worth was $6 million.
The one area that Lonzo Ball’s net-worth could take a hit is endorsements. Endorsement deals make up the bulk of most athletes eventual net-worth, but it’s unclear how much endorsement revenue Ball will generate, especially since he isn’t interested in co-branding with some of the big names such as Nike and Adidas.
How Lonzo Ball’s net-worth compares to LaVar Ball’s net-worth
Lonzo Ball isn’t the only athlete in the family. His dad is LaVar Ball. During his younger days, LaVar Ball was a professional tight end for London Monarchs, a football team that was part of the World League of American Football.
LaVar Ball took what he learned as an athlete and paired it with some natural-born business sense and developed an athletic shoe company that he named Big Baller Brand. LaVar hopes to have all his sons playing professional basketball, which would significantly drive up sales of the shoes, especially if they were able to come with a cross-branding promotion.
Interestingly enough, Lonzo Ball’s net-worth is higher than LaVar’s. A big part of this is because LaVar’s only income stream is his shoe brand, while Lonzo is currently pulling in a massive NBA salary, but even before Lonzo signed with the Lakers he was worth more than his dad. At that time, LaVar’s reported net-worth was only $4 million.
The future of the Ball family
There is more than a little concern that Big Baller Brand isn’t the wonderful secure company LaVar wants everyone to think it is. Recent reports indicate that the company is in a great deal of trouble. Lonzo Ball is suing the former Big Baller Brand partner, Alan Foster.
In response to Ball’s lawsuit, Foster filed a countersuit that, among other things, accuses the younger Ball of breaking NCAA rules and selling apparel while he was in college. There have also been reports of delayed deliveries and other customer service problems.
It doesn’t help that there are times when LaVar Ball seems determined to sabotage his own business. He has a history of making snide, rude, and at times, hateful comments that cause people to turn against him and his brand.
Another issue is the price tag attached to the shoes. Even some professional athletes have commented that they are simply too expensive for the average person. The combination of inflated prices and thoughtless comments could hurt sales. If that happens, LaVar will lose his income while Lonzo will at least have his basketball salary to keep him going.