Ice Cube’s 3-on-3 Basketball League Set to Expand to New York

Ice Cube’s 3-on-3 basketball league is in advanced talks to sell the licensing rights for expansion teams in New York and Arizona following its eighth and most successful season.

The Big3 league has entered due diligence with the potential buyers and has hired investment bank Park Lane to advise on the deals that will value the teams between $13 million and $20 million, according to Jeff Kwatinetz, who co-founded the league with Ice Cube.

“It’s not just about selling teams, it’s about bringing on partners who are going to help evolve this league to the next level,” Kwatinetz said. “We want owners that think about what’s best for the league and have strategic value, not just people who can write a check.”

The latest season, which ended in August, was the most watched in the league’s history, generating a 26% jump in year-over-year viewership.

Big3 averaged 558,000 viewers on CBS this summer, reaching a peak of 850,000 viewers during the playoffs — a 48% increase from the previous year. Meanwhile, the growing popularity of other 3-on-3 basketball leagues was highlighted by the debut this year of Unrivaled, a women’s 3-on-3 league co-founded by WNBA stars Breanna Stewart and Napheesa Collier. This season, including playoffs, Unrivaled drew an average audience of 221,000 viewers across TNT and truTV’s simulcast coverage.

A key distinction between the two leagues is in their player bases: Unrivaled features active WNBA stars, while Big3 is comprised of retired and former NBA players.

The Big3 initially sold its first team, based in Los Angeles, last year in a $10 million deal. Since then, the organization has expanded its ownership base, adding teams in cities including Houston, Miami and Detroit.

Big3’s Dallas-based team has also been fielding interest from potential buyers, according to a person familiar with the discussions. The league currently has eight teams represented in home markets, half of which have been sold to local ownership groups. Last year Big3’s Houston-based team was bought by a pair of energy executives in a deal worth $10 million.

Park Lane declined to comment on current team sales.

Formed in 2017, the teams — with names like the 3 Headed Monsters and Ball Hogs — had originally been owned and operated by the league. The Big3 had hoped to expand from eight to 16 teams and have all sold by summer 2025, but now aims to have 12 teams by 2027, Kwatinetz said.

Although team expansion hasn’t been as rapid as hoped, the jump in viewership has helped cement a new media deal. The league has been on a year-by-year contract basis with CBS and has reached an agreement on terms for the upcoming season, according to a person familiar with the discussions. The league attributes its growth to its rising social media presence that has drawn a younger fan demographic to the league. This year also saw notable additions to the league, such as former all-star Dwight Howard.

“It’s a hard thing to do to start a new league,” Kwatinetz said. “We’re proud that we’ve gotten to a place where we’re doing something good for sport and sports culture.”