Andrew Pace
BIG3 is a 3-on-3 basketball league founded by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz. The league consists of 12 teams, including former NBA players and international players. In 2024, BIG3 sold four of its 12 franchises to ownership groups in Miami, Los Angeles, Houston, and Detroit for around $10 million each. Ice Cube and Kwatinetz sought out club owners as a way to further engage local markets and add more people with sports expertise.
| Characteristics | Values |
|---|---|
| Number of franchises | 12 |
| Number of franchises sold | 4 |
| Sold franchises | Miami, Los Angeles, Houston, Detroit |
| Co-founders | Ice Cube, Jeff Kwatinetz |
| Sold by | Ice Cube |
| Sold to | Various ownership groups |
| Price | $10 million each |
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What You'll Learn
Ice Cube and Jeff Kwatinetz founded BIG3
The 3-on-3 basketball league BIG3 was founded by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz. The league consists of 12 teams, comprising former NBA players and international players. The BIG3 debuted in 2017 and takes place during the NBA offseason.
In 2024, BIG3 sold the rights to its first four franchises for about $10 million each. The consortium of investors included professional athletes and celebrities. The four franchises were based in Miami, Los Angeles, Houston, and Detroit. The Detroit franchise was sold to an ownership group called GameAbove Sports, led by GameAbove founder Keith J. Stone. The ownership group included several local sports legends, including NBA Hall of Famer and Eastern Michigan alumnus George Gervin and former Detroit Lions offensive lineman T.J. Lang.
Ice Cube and Jeff Kwatinetz have expressed their excitement about the new ownership model, stating that it will help unlock the fanbase in the respective cities and engage local markets. They also sought out club owners with sports expertise to further engage the local communities.
In 2025, BIG3 expanded to Chicago, becoming one of eight cities with BIG3 teams, alongside Dallas, Baltimore/Washington D.C., Los Angeles, Detroit, Boston, Miami, and Houston. The league has a diverse and engaged fanbase, with an average of 14,000 fans in-arena each weekend and a significant female and non-white viewership.
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BIG3's first team sold for $10 million
BIG3, the 3-on-3 basketball league, was founded by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz. On May 10, 2024, BIG3 announced the first-ever purchase of rights for a team to represent a home market. The Los Angeles-based BIG3 team was purchased by a consortium of investors led by DCB Sports, which includes professional athletes and celebrities. The deal was worth $10 million.
Prior to this, since the BIG3's formation in 2017, all teams had been centrally owned and operated at the league level. Season 7, in 2024, was the final BIG3 season operating under this model. Following this, all teams will transition to representing home markets.
BIG3 has sold four of its 12 franchises to ownership groups in Miami, Los Angeles, Houston, and Detroit for about $10 million each. The investors in the Miami franchise are led by Heath Freeman, a media, sports, real estate, and hospitality executive. Mullins, the chairman and CEO of Lime Rock Resources private equity firm, has an NFL background, and his BIG3 co-owner Milton Carroll holds a minority stake in the Houston Astros. The most recent BIG3 franchise deal, for Detroit, belongs to GameAbove Sports, a sports-focused business development and strategic investment entity.
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The Miami franchise is led by Heath Freeman
BIG3 is a 3-on-3 basketball league founded by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz. The league consists of 12 teams, including former NBA players and international players. The Miami franchise is led by Heath Freeman, a media, sports, real estate, and hospitality executive. Freeman is also the managing partner of the Florida Freedom, which plays in the PBR (Professional Bull Riders) and is based out of the Amerant Bank Arena in Sunrise, Florida. Additionally, he serves as Executive Chairman of the AVP, the premier beach volleyball league globally.
Freeman's group purchased the rights to the second-ever location-based BIG3 franchise for \$10 million, intending to base the team in Miami. The Miami-based BIG3 team is set to debut in 2025, marking the first time that BIG3 teams will represent home markets. This shift from a touring model to a localized approach aims to engage local communities and fanbases more intimately.
Freeman's leadership exemplifies the ideal owner profile sought by BIG3. According to BIG3 President and co-founder Jeff Kwatinetz, Freeman embodies a winner with a compelling vision for the league's growth and a deep understanding of how BIG3 can become a pivotal leader in the sports landscape. Freeman's dedication to revitalization, talent recognition, tenacity, and competitive spirit make him the ideal partner to bring a winning franchise to Miami, a city with a longstanding dedication to BIG3.
Freeman's acquisition of the Miami franchise rights aligns with BIG3's strategy of partnering with owners who can unlock the fanbase in their respective cities. This approach is expected to drive the league's expansion and foster a more intimate connection with local audiences. Freeman's passion for community development and positive change further underscores his commitment to establishing a successful franchise in Miami.
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Eric Mullins and Milton Carroll co-own Houston's team
The BIG3 is a 3-on-3 basketball league founded by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz. The league consists of 12 teams, including former NBA players and international players.
On July 3, 2024, BIG3 announced that energy executives Eric Mullins and Milton Carroll had acquired the rights to the third location-based franchise, with plans to base the team in Houston. Mullins and Carroll will take ownership for the 2025 season, when all BIG3 teams will represent home markets.
Eric Mullins is an alumnus of the 1984 Houston Oilers and currently serves as the Chairman and CEO of Lime Rock Resources, a private equity firm focused on oil and gas. He also served on the boards of ConocoPhillips and Valero Energy Corporation and spent 15 years as a Managing Director at Goldman Sachs, primarily in the Energy and Power Group.
Milton Carroll brings leadership experience from his roles as Executive Chairman of CenterPoint Energy and the Board of Health Care Service Corporation. He also holds a minority stake in the Houston Astros.
Both Mullins and Carroll expressed their admiration for how Ice Cube and Kwatinetz run the BIG3 league and their dedication to the communities they visit. They are confident that their combined sports experience and leadership qualities will contribute to the success of the Houston BIG3 team.
The addition of the Houston franchise brings the league closer to its goal of 16 total franchises representing specific cities.
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Detroit's team is owned by GameAbove Sports
BIG3 is a 3-on-3 basketball league founded by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz. The league consists of 12 teams, including former NBA players and international players. On July 8, 2024, BIG3 announced that GameAbove Sports had purchased the rights to the fourth location-based franchise, with plans to base the team in Detroit, debuting in 2025.
GameAbove Sports is a sports-focused business development and strategic investment entity backed by CapStone Holdings Inc. GameAbove is deeply committed to philanthropy and inspiring greatness through sports, entertainment, and youth organizations. The company's ownership and for-profit initiatives, including GameAbove Sports and GameAbove Entertainment, aim to foster impact and innovation in their sectors.
The Detroit team will be part of BIG3's transition to representing home markets, which began in 2025. Previously, BIG3 travelled to different cities each week, and teams were not associated with specific locations. The new model allows BIG3 to engage local communities and fanbases, bringing in ownership groups with their own sports expertise, business capabilities, and connections to unlock the fanbase in their cities.
GameAbove Sports has also been involved in other sports ventures, such as sponsoring the GameAbove Sports Bowl, which took place in December 2024 and featured a matchup between the Pitt Panthers and the Toledo Rockets.
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Frequently asked questions
BIG3 is a 3-on-3 basketball league founded by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz.
BIG3 has sold four of the 12 franchises to ownership groups in Miami, Los Angeles, Houston, and Detroit for about \$10 million each.
The investors in the Miami franchise are led by Heath Freeman, a media, sports, real estate, and hospitality executive.
The Detroit team will be operated by an ownership group called GameAbove Sports, led by GameAbove founder Keith J. Stone.
