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

BIG3 (@TheBig3), the Los Angeles based professional basketball league founded by Ice Cube and Jeff Kwatinetz, raised $17 million in a growth round including, Athlon as well as Gary Vaynerchuk, LL COOL J, Sundeep Madra, John Angelos and Bill Lee. The funding comes ahead as BIG3 prepares to become publicly traded in a transaction valuing the league at $290 million, following the sale of multiple franchises for $10 million each and positioning the league for further U.S. and international expansion.

FUN FACT: Athlon was built to back business shaping what and how people consume, compete and connect. These consumer brands, sports concepts and experiences shift culture, consumer habits and behaviors. The BIG3 is exactly that thesis in action. Athlon invested alongside an exceptional group spanning venture, technology, sports and entertainment because the next generation of sports value will come from emerging properties that own their IP, media, franchises and fan relationships. BIG3 has already proven franchise-level demand, with multiple teams acquired for $10M+ each, nine seasons of operating history and national distribution. Now, the league is entering the public markets through a transaction valuing BIG3 at $290M. Powered by basketball royalty since day one, from Allen Iverson and legendary coaches to Hall of Famers Nancy Lieberman and Lisa Leslie, BIG3 has combined basketball legacy, cultural relevance and innovation from inception.

FOUNDERS: Ice Cube (@IceCube) & Jeff Kwatinetz

INVESTORS: ATHLON, John Angelos, Peter Briger, Drew McKnight, Sundeep Madra, Sean Bannon, Bill Lee, Gary Vaynerchuk, Jeff Kwatinetz, LL COOL J & Michael Karsa

AMOUNT: $17,000,000

VALUATION: $290,000,000

HQ: Los Angeles, California

#VentureCapital #BIG3 #TradedPartner #IceCube #TradedVC