Big3, the 3-on-3 basketball league co-founded by Ice Cube, is preparing to go public through a deal that values the company at $290 million, according to reports from Bloomberg and other outlets. Financial Post says Big3 has entered into an agreement with a special purpose acquisition company (SPAC) to take the organization public. Bloomberg similarly frames the move as part of the league’s next stage of growth following its early development and fan adoption.
Inc. Magazine adds that Big3 plans to offer fans the opportunity to become shareholders by year’s end. The coverage describes the league as positioning itself as the first publicly traded sports league, with Ice Cube discussing what the listing could mean for the organization. Across the articles, the main points are the public-market pathway via an SPAC, the stated valuation figure, and plans to involve fans in the shareholder base as the league moves toward becoming publicly traded. The reports do not provide additional deal terms beyond the valuation and the general structure.
