LaVar defends Lonzo's pricey shoe: 'That's what it's worth'

Former UCLA star Lonzo Ball's signature shoe, the ZO2, was the butt of many jokes Thursday after being listed at a pricey $495 on the Big Baller Brand website.

Related - Watch: Lonzo Ball unveils signature shoe for $495

Lonzo's father and business manager, LaVar, was asked how he came up with such a number when he appeared Friday on ESPN's "The Dan Le Batard Show."

"I figure that's what the shoe is worth," LaVar said, according to ESPN's Darren Rovell, adding that it was his decision. "When you are your own owner you can come up with any price you want."

The brand's site sells sandals for a costly $220, which LaVar was asked to explain as well.

"Prada and Gucci is selling theirs for what they want," LaVar said. "Ours is better than that. It feels better."

He said Lonzo will receive all profits from the shoes and sales are "going good," though he wouldn't reveal sales figures, how much the shoes cost to produce, or who makes the shoes.