BIG3 Secures $17 Million Investment From Athlon And Other Investors At $290 Million Valuation

BIG3, the professional basketball league based in Los Angeles and founded by Ice Cube and Jeff Kwatinetz, raised $17 million in a growth round led by Athlon. This funding will support the league's preparations to become publicly traded and is part of a transaction valuing the league at $290 million.

Summary of transaction details:

• Deal Type: Growth Round
• Transaction Amount: $17,000,000
• Company Valuation: $290,000,000
• Headquarters: Los Angeles, California
• Notable Investors: Athlon, Gary Vaynerchuk, LL COOL J, John Angelos, Bill Lee, Sundeep Madra, and Ice Cube

Founded by Ice Cube and Jeff Kwatinetz, BIG3 has a proven operating history with nine seasons and multiple franchises sold for $10 million each, demonstrating franchise-level demand. The league combines basketball legacy with cultural relevance and is supported by renowned figures, including basketball royalty such as Allen Iverson, Nancy Lieberman, and Lisa Leslie. Athlon’s investment strategy focuses on unique sports properties poised for growth, aligning with BIG3's trajectory towards becoming a publicly traded entity.