Image by Schorsch from Pixabay
Los Angeles – The BIG3 basketball league founded by entertainer and entrepreneur Ice Cube plans to become a publicly traded company through a merger agreement with Graf Global Corp., a special purpose acquisition company.
The proposed transaction values BIG3 at approximately $290 million before the merger closes.
If approved by shareholders and regulators, the combined company would operate as Big3 Basketball Holdings and trade under the ticker symbol TONT.
The move marks a significant milestone for the 3-on-3 basketball league, which launched in 2017 and features former NBA players and other professional athletes.
League officials said the public offering is expected to provide additional capital as BIG3 continues expanding its franchise model, media partnerships and business operations.
In recent years, the league has shifted from a touring format to a city-based franchise structure, selling ownership stakes in teams located in several major markets.
The announcement comes as sports organizations increasingly explore new funding opportunities to support growth and expansion.
BIG3 leaders have said the transaction would allow fans and investors to participate in the league’s future development.
Ice Cube and co-founder Jeff Kwatinetz are expected to remain in leadership roles following completion of the merger.
Since its launch, BIG3 has established itself as a professional 3-on-3 basketball league featuring former NBA stars, including Joe Johnson, Dwight Howard, Amar’e Stoudemire and Rashard Lewis.
The merger is expected to close later this year, pending shareholder approval and regulatory review.
If completed, BIG3 said the transaction would make it the first professional sports league in the United States to become publicly traded.
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