In October 2022, Ice Cube’s Big3 basketball league achieved a significant milestone when ByBlack and the U.S. Black Chambers officially recognized it as a Black-owned and operated business. This acknowledgment was a testament to the league’s commitment to empowering Black players, fans, investors, and partners since its inception.

The Big3, co-founded by Ice Cube and Jeff Kwatinetz in 2017, has rapidly grown in popularity and influence. The league, known for its unique three-on-three basketball format, concluded its fifth season in 2022 and has since embarked on a new journey: selling franchise stakes through blockchain technology. Prominent figures such as Snoop Dogg, Ken Howery, Gary Vaynerchuk, and the DeGods collective have already invested in these stakes.

Ice Cube expressed his pride in the league’s certification by ByBlack and the U.S. Black Chambers, stating, “Myself and the entire league are honored to be officially certified by ByBlack and the U.S. Black Chambers. From day one, the league has been dedicated to providing opportunities for Black players, fans, investors, and partners, and we are proud to be a part of a nationwide network of Black business owners. Supporting Black enterprise is a lifelong passion of mine and the Big3 will continue to build upon its successes and lift up other Black entrepreneurs.”

The Big3’s operational structure stands out in the professional sports landscape. Unlike traditional sports leagues where individual franchise owners hold equal portions of the league, the Big3 operates with a distinct model led by Ice Cube and a group of equity partners. This unique approach has allowed the league to innovate and grow differently from the NFL, NBA, MLB, and NHL.

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In a groundbreaking move, Ice Cube’s Big3 sold its first team in a $10 million deal in early 2024. According to Bloomberg, an investment firm named DCB Sports has secured a team based in Los Angeles. This sale marks a significant shift for the Big3, which previously owned and managed all its teams.

This deal follows the league’s strategic decision to transition from a touring model to a city-based format. Announced in May, this change aims to establish a stronger presence in specific locations, fostering deeper connections with local fan bases. “We need to plant our roots in cities so we can be more than a rolling all-star game coming through,” Ice Cube stated. “It’s really about growing the sport and the league.”

The Big3 plans to announce the owners of four additional teams in June 2024. By the summer of 2025, the league intends to expand internationally, with teams in London and Toronto. This expansion will also increase the league to 16 teams, enhancing its city-centric format. This approach will allow games to be played in home market arenas, further solidifying local fan engagement.

The transition to a city-based format and the sale of individual teams signal a new era for the Big3. By establishing permanent teams in specific locations, the league aims to cultivate dedicated fan bases and create more substantial community ties. This strategy not only enhances the league’s visibility but also underscores its commitment to long-term growth and sustainability.

As the Big3 continues to evolve, its innovative approach to professional basketball and its dedication to empowering the Black community remain at the forefront. The sale of the first team is a significant step in this journey, promising a bright future for the league and its stakeholders.