Rapper and actor Ice Cube’s Big 3 basketball league is in talks to sell some of its teams as it looks to open up ownership to outside investors, according to a person familiar with the matter.
(Bloomberg) — Rapper and actor Ice Cube’s Big 3 basketball league is in talks to sell some of its teams as it looks to open up ownership to outside investors, according to a person familiar with the matter.
The league has owned all of its 12 teams since its first tipoff six years ago. Discussions are now underway with a few interested parties to shift some teams to a franchise model, said the person, who asked not to be named discussing private information.
A representative for the Big 3 declined to comment.
The Big 3, which features half-court three-on-three basketball with rosters that include former NBA and international players, is heading into its sixth season this summer. Ice Cube, whose real name is O’Shea Jackson, started the league with his business partner Jeff Kwatinetz in 2017.
Small sports leagues often own their own teams, rather than use the franchising model more familiar to fans of the National Football League and Major League Baseball, but that’s been changing in recent years. Ownership in esports, for instance, has drastically shifted to the franchise concept.
The Big 3 has dabbled in giving fans some ownership influence as well, allowing them to invest in tokens that give them voting rights, VIP tickets and other perks.
As management considers new owners, Ice Cube has also been pitching his league to advertisers as he tries to seek out more sponsorship deals. Last year it renewed partnerships with Microsoft Corp. and Monster Beverage Corp.
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