Ice Cube and entertainment executive Jeff Kwatinetz are suing some Big3 league foreign investors according to a report The Washington Post for $1.2 Billion. The lawsuit is against the league’s foreign investors for damages after they allegedly swindled the two original partners.
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The lawsuit alleges the foreign investors withheld millions of dollars in an attempt to push out the Big3 founders, which includes Ice Cube, and take over the league.
Ice Cube and Kwatinetz are seeking $1.2 billion in damages and allege they were swindled by the foreign investors, including Sheikh Abdullah bin Mohammed bin Saud Al Thani, who is the CEO of Qatar Investment Authority, the state-owned entity that specializes in foreign investments.
This is what Cube told The Washington Post about the situation “It’s like, god—- , man, we’re the newest, smallest thing with one season under our belt. Go after the big boys. That’s what this is more about. It’s like we’re going to tell the world what you tried to do. We ain’t no punks. They thought we was just this rapper and this rock guy: ‘We could do ’em.’ Get your [butt] out of here.”
The 33-page complaint filed in Los Angeles County Superior Court alleges a duplicitous scheme in which the Qatari group paid only a portion of its agreed-upon investment and withheld the rest of the money to create leverage, all with the goal of fracturing the league leadership and eventually muscling its way into a controlling interest.
