NBA teams reportedly aren’t dinging potential No. 1 pick Lonzo Ball over all the wild stuff his dad says and does.
Shoe companies are apparently taking a different approach.
Darren Rovell of ESPN:
An endorsement deal with Nike, Under Armour or Adidas is not in the cards for Lonzo Ball.
Ball’s father LaVar confirmed that the three shoe and apparel companies informed him that they were not interested in doing a deal with his son. Sources with the three companies told ESPN.com that they indeed were moving on.
In his meetings with the three, LaVar insisted that the company license his upstart Big Baller Brand from him. He also showed the companies a shoe prototype that he hoped would be Lonzo’s first shoe.
“We’ve said from the beginning, we aren’t looking for an endorsement deal,” LaVar told ESPN. “We’re looking for co-branding, a true partner. But they’re not ready for that because they’re not used to that model. But hey, the taxi industry wasn’t ready for Uber, either.”
“Just imagine how rich Tiger (Woods), Kobe (Bryant), Serena (Williams), (Michael) Jordan and LeBron (James) would have been if they dared to do their own thing,” LaVar said. “No one owned their own brand before they turned pro. We do and I have three sons so it’s that much more valuable.”
Is there more upside in this approach? Yeah, I guess.
But the traditional shoe companies bring valuable infrastructure and experience. There’s value in forfeiting upside for those resources. Lonzo Ball, who has yet to play in the NBA, is also missing out on guaranteed life-changing money.
On the risk-reward curve, this seems like a mistake.