Ice Cube’s 3-on-3 basketball league, BIG3, is moving toward going public after reaching an agreement with a special purpose acquisition company (SPAC), according to multiple outlets. The deal values BIG3 at about $290 million and is described as a “business combination” that would take the organization public. Several sources frame the move as potentially historic, with Billboard and Yahoo Sports noting that BIG3 would be the first publicly traded professional sports league in the United States. Bloomberg adds that Ice Cube is preparing the league for a next phase, discussing the league’s early years and the growth of its fan base. Inc. and Yahoo Sports also state that BIG3 plans to offer fans a way to participate as shareholders by year’s end, positioning the offering as a mechanism for fans to own part of the league. Overall, the reporting is consistent on the valuation, the use of an SPAC/business combination to facilitate the listing, and the league’s intention to expand its presence as a publicly traded sports organization.
Ice Cube’s BIG3 agrees to go public in $290 million deal
Ice Cube’s 3-on-3 basketball league, BIG3, is moving toward going public after reaching an agreement with a special purpose acquisition company (SPAC), according to multiple outlets. The deal values B...
- BIG3, the 3-on-3 basketball league co-founded by Ice Cube, has agreed to go public through an SPAC/business combination deal.
- The reported valuation in the agreement is about $290 million.
- Multiple outlets describe the move as potentially making BIG3 the first publicly traded professional sports league in the United States.
- BIG3 plans to give fans an opportunity to own shares, with participation targeted by year’s end, according to some reports.
- Bloomberg reports that Ice Cube is preparing the league for this next stage and highlights strong fan engagement since its early days.
Ice Cube, Adam SilverFor nearly four decades, Ice Cube has helped shape Los Angeles culture. From helping launch N.W.A. and putting South Central Los Angeles on the global map through...
2 months agoThe Big3 basketball league plans to become the first publicly traded professional sports league in U.S. history through a $290 million business combination agreement. The 3-on-3 league, co-founded by O’Shea...
2 months agoThe BIG3 will become the first publicly traded sports league in the U.S.
2 months agoThe pro 3-on-3 summer league plans to offer fans a chance to be shareholders by year’s end. ‘This lifts us to a bigger stage,’ says the hip-hop legend and Big3 co-founder.
2 months agoRapper & Co-Founder of Big3 league Ice Cube, discusses the league preparing to go public after a $290 million valuation. He discusses the early days of the league, how the fans have really embraced it, and what it means to be the first publicly traded sports league. He speaks with Romaine Bostick & Randall Williams on “The Close.” (Source: Bloomberg)
2 months agoBig3, the 3-on-3 basketball league founded by Ice Cube and Jeff Kwatinetz, has entered into an agreement with a special purpose acquisition company to take the organization public.
2 months ago
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