Ice Cube’s Big 3 basketball league is set to make history. By becoming the first publicly traded sports league in the United States (via the Los Angeles Times).
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This comes as a result of a merger with Graf Global Corporation, one that is worth $290 million.
Ice Cube’s Big 3 Basketball League Set to go Public
Per the terms of the agreement, the league that was co-founded by Cube and Jeff Kwatinetz, fans will now be able to purchase shares within the company.
There was a lot of skepticism surrounding the Big 3 when Cube and Kwatinetz launched the company in 2017. Mainly because there was a stark difference from other major leagues like the NBA and the NCAA. There was just one hoop, the play style was three-on-three, and it lacked star power. But just three years later, the Big 3 has been a hit among basketball fans.
Following the announcement, Cube expressed his excitement about the move. One that he feels can be at the forefront of “leading a new generation” of sports.
“We are excited for BIG3 to be the first publicly traded professional sports league in the US,” Ice Cube said in a statement. “Leading a new generation of emerging sports, BIG3 connects basketball to culture, fans, and our team communities. Going public is our next step. This lifts us to a bigger stage and accelerates our international potential. It gives our fans a way to grow with us, support us, and participate in our success.”
Kwatinetz added: “The public listing will provide capital and acquisition currency to take the best advantage of our highly scalable platform, dominant brand, experience, leadership, and opportunities in 3-on-3 basketball and the emerging sports market generally.”
The ninth season of the Big 3 will kick off on June 20 in Los Angeles.
