First Franchise of Ice Cube's BIG3 Basketball League Sold for $10 Million
By: Joshua Martin
Ice Cube’s BIG3 league sells its first franchise for a massive $10 million dollars as the league continues its expansion plans.
The deal was announced on Friday, May 10th by a group led by investment firm DCB Sports out of Los Angeles. The new team will be based in L.A. and is no doubt a monumental milestone for the basketball league.
The eight-figure deal comes as the league transitions from a traveling model to one where each team in the league is based in its home city. A move the Hip-Hop legend believes will strengthen the league’s respective fanbases.
“We need to plant our roots in cities so we can be more than a rolling all-star game coming through. It’s really about growing the sport and the league. We can plant our roots in these cities. It is great to come through with, like, a rolling All-Star event. But if you want to really unlock the fan-base potential, connecting to cities does that.”
The league is not only adding a new franchise in Los Angeles but the BIG3 is looking to add four new ownership groups by the start of the 2024 BIG3 season in June. With the hopes of having all 12 of their existing teams sold prior to the 2025 BIG3 season.
Gary LaDrido of DCB Sports Managing Partner, pointed to 3-on-3 basketball being introduced as an Olympic sport back in 2021 at the 2020 Tokyo Games as a contributing factor in his group’s acquisition of the L.A. franchise.
“We view it as an interesting property. Grabbing the LA market is super cool — and for Ice Cube to trust us to usher that in.”
The 2024 BIG3 season will kick off on June 15 in Oakland, Calif.
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