Ice Cube poses on the red carpet prior to the BIG3 Championship at State Farm Arena on August 21, 2022 in Atlanta, Georgia. Todd Kirkland/Getty Images for BIG3
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Ice Cube is looking to take the BIG3 to new heights. Cube announced on Friday (June 12) that he’s planning to take his three-on-three basketball league public following a deal with special purpose acquisition company Graf Global Corp.
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As part of the acquisition, Cube’s eyeing a $290 million valuation for the Big3 in the deal, according to the press release. With the move, the BIG3 will become the first publicly traded U.S. sports league.
“We are excited for BIG3 to be the first publicly traded professional sports league in the US,” said Cube, CEO of the BIG3, in a statement. “Leading a new generation of emerging sports, BIG3 connects basketball to culture, fans and our team communities. Going public is our next step. This lifts us to a bigger stage, accelerates our international potential and gives our fans a way to grow with us, support us and participate in our success.”
Fans will be able to purchase stock in the company by the fourth quarter of this year. The BIG3 will publicly trade on the New York Stock Exchange using the ticker “TONT,” which is short for three-on-three.
Cube’s three-on-three league launched in 2017, and the BIG3 will tip-off for a ninth season on June 20. Eight teams are currently part of the league, which are stationed in Houston, Chicago, Los Angeles, Miami, Detroit, Boston, Dallas and the DMV area.
The West Coast rap legend joined Bloomberg Friday and spoke about the deal to go public as well as plans to expand the BIG3. “The league is really ready to explode,” he said. “We only have eight teams now, but we want to go to 12, 16, 20 [teams] and get as large as some of the other leagues and have a bigger footprint.”
Cube pointed to his track record as an artist, actor and entrepreneur while encouraging potential investors to believe in his vision. “If you looked at my whole career from music to movies and now music, please believe it and bet on Cube. At the end of the day, I’ll take you to the promise land,” he proclaimed.
Watch Ice Cube’s interview below.
