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The BIG3 is a 3-on-3 basketball league founded by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz. Since its founding in 2017, the league has expanded from eight to twelve teams, featuring former NBA and international players. In 2024, Ice Cube and Kwatinetz sold four of the twelve franchises to ownership groups in Miami, Los Angeles, Houston, and Detroit for $10 million each. The new model will see the league transition from hosting road games to setting up home teams in different cities.
| Characteristics | Values |
|---|---|
| Number of franchises | 12 |
| Year founded | 2017 |
| Founders | Ice Cube and Jeff Kwatinetz |
| Format | 3-on-3 basketball |
| Franchise locations | Miami, Los Angeles, Houston, Detroit |
| Franchise owners | Heath Freeman, Eric Mullins, Milton Carroll, Keith J. Stone, George Gervin, T.J. Lang, Joe Januszewski, Karen LeVert, Dan McClory, Skyler Stone, Corey Welch, Anthony Tomey |
| Franchise cost | $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 the 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 league plays on a half court and features a 4-point shot. It debuted in 2017 and takes place during the NBA offseason.
Ice Cube and Kwatinetz have been in charge of the league since its inception. However, in 2024, they decided to sell four of the 12 franchises for about $10 million each. The new owners have a sports background, and Ice Cube and Kwatinetz believe that they will further engage the local markets and add more people with sports expertise. The four franchises are based in Miami, Los Angeles, Houston, and Detroit.
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, a private equity firm, has played in the NFL, and his BIG3 co-owner, Milton Carroll, holds a minority stake in the Houston Astros. The Detroit franchise is owned by GameAbove Sports, a sports-focused business development and strategic investment entity backed by CapStone Holdings Inc. The ownership group is led by founder and chairman Keith J. Stone and includes investment by former Detroit Lions lineman T.J. Lang and NBA Hall of Famer George Gervin.
Ice Cube has expressed his excitement about the new owners and their passion for the game. He also stated that having owners who can unlock the fanbase in their cities is an important step for the league.
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The league initially had 8 teams, now 12
The 3-on-3 basketball league BIG3 was founded in 2017 by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz. The league initially featured eight teams, but in 2019, it expanded to 12 teams. The expansion coincided with the debut of FIREBALL3, a new basketball variant played by BIG3 that differs from FIBA-sanctioned 3-on-3 games.
Until 2025, all BIG3 teams were centrally owned and operated at the league level. However, in May 2024, BIG3 announced the first-ever purchase of rights for a team to represent a home market. A consortium of investors led by DCB Sports, including professional athletes and celebrities, acquired the Los Angeles-based BIG3 team for $10 million. This marked the beginning of BIG3's transition to a home market model, with teams representing specific cities.
In June 2024, BIG3 sold the rights to its second location-based franchise to a group of investors led by business executive Heath Freeman, who planned to base the team in Miami. This was followed by the sale of the third location-based franchise to Eric Mullins and Milton Carroll, who intended to establish the team in Houston. BIG3 then sold the rights to its fourth location-based franchise to GameAbove Sports, a sports-focused entity backed by CapStone Holdings Inc., which would be based in Detroit. Each of these franchises was sold for approximately $10 million.
Ice Cube and Kwatinetz remain in charge of the league as a whole, but they have expressed their intention to cultivate an ownership group that attracts the best sports owners worldwide. They aim to engage local markets and involve more people with sports expertise by selling franchises to owners who can tap into the fanbase in their cities.
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Four franchises sold for $10 million each
The BIG3 basketball league, founded by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz, sold four of its 12 franchises for about $10 million each. The franchises were purchased by ownership groups based in Miami, Los Angeles, Houston, and Detroit.
The Miami franchise was purchased by a group of investors led by business executive Heath Freeman, who is also the executive chairman of the AVP beach volleyball league. The Los Angeles franchise was acquired by a consortium of investors led by DCB Sports, which has also invested in TGL San Francisco, the new golf league founded by Tiger Woods and Rory McIlroy.
The Houston franchise was purchased by Eric Mullins, the chairman and CEO of Lime Rock Resources, a private equity firm, and Milton Carroll, who holds a minority stake in the Houston Astros. The Detroit franchise was acquired by GameAbove Sports, a sports-focused business development and strategic investment entity backed by CapStone Holdings Inc. The ownership group is led by founder and chairman Keith J. Stone and includes former Detroit Lions lineman T.J. Lang and NBA Hall of Famer George Gervin.
The sales of the four franchises marked a transition for the BIG3 league from a travelling model to a city-centric model, with each team based in its home city and arena. This move was intended to strengthen the league's respective fanbases and engage local markets more effectively.
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Teams will represent home markets from 2025
The BIG3, a 3-on-3 basketball league, was 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. Since its formation in 2017, all teams have been centrally owned and operated at the league level.
However, in May 2024, BIG3 announced the first-ever purchase of rights for a team to represent a home market. A consortium of investors led by DCB Sports, including professional athletes and celebrities, purchased the rights to the Los Angeles-based team for $10 million. This marked the beginning of BIG3's transition to a location-based model, with teams representing specific cities and owned by local owners.
The league's eighth season, starting on June 14, 2025, will feature eight all-new teams representing Boston, Chicago, Dallas, Detroit, the DMV metropolitan area, Houston, Los Angeles, and Miami. This shift to a fully location-based model is a landmark moment for the league, allowing them to engage with local communities and fan bases more closely.
Ice Cube and Kwatinetz remain in charge of the league as a whole but have sold four of the 12 franchises to ownership groups in Miami, Los Angeles, Houston, and Detroit, each for approximately $10 million. The investors in each group have a sports background and a passion for the game, which Ice Cube believes will help unlock the fanbase in their respective cities.
With this new model, BIG3 aims to deepen connections with fans and communities in these cities, while also bringing in owners with sports expertise and business acumen. The league has constantly sought to innovate and improve the three-on-three basketball scene, and this transition to location-based teams is another step towards that goal.
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The Miami franchise was the first to be sold
The BIG3 basketball league was founded in 2017 by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz. The league initially featured 8 teams, which expanded to 12 in 2019. Since its founding, BIG3 has travelled to different cities each week, with teams not associated with home markets. However, in May 2024, BIG3 CEO Ice Cube announced plans to transition to a more traditional city-based model, with teams representing their home markets.
As part of this transition, BIG3 began selling the rights to location-based franchises. On June 15, 2024, the league announced that the Miami franchise, the first-ever location-based BIG3 franchise, had been sold to a group of investors led by business executive Heath Freeman for $10 million. The Miami-based team is set to debut in 2025.
The sale of the Miami franchise marked a significant step in the evolution of the BIG3 league, as it was the first time a team had been sold to represent a home market. This new model aims to foster a deeper connection with local fans and engage the local markets more actively.
Following the sale of the Miami franchise, BIG3 announced the sale of additional location-based franchises in quick succession. On July 3, 2024, the league sold the rights to a Houston-based team to Eric Mullins and Milton Carroll. Just a few days later, on July 8, 2024, BIG3 revealed that GameAbove Sports had purchased the rights to the fourth location-based franchise, with plans to base the team in Detroit, also debuting in 2025.
The rapid sale of these initial franchises highlights the appeal and potential of the BIG3 league in the world of basketball. With seasoned groups of sports investors and prominent figures showing interest, the league is poised to shape the future of the sport.
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Frequently asked questions
The BIG3 basketball league was founded by hip-hop musician and actor Ice Cube and entertainment executive Jeff Kwatinetz.
Until 2024, all BIG3 teams were centrally owned and operated at the league level. However, in 2024, Ice Cube and Kwatinetz sold four of the 12 franchises to ownership groups in Miami, Los Angeles, Houston, and Detroit for about $10 million each.
The BIG3 Miami franchise investors are led by Heath Freeman, a media, sports, real estate, and hospitality executive.
The rights to the Los Angeles franchise were purchased by a consortium of investors led by DCB Sports.
