As the BIG3 approaches its fifth season, the professional basketball league co-founded by rapper and businessman Ice Cube is giving fans an opportunity to own a minority stake in its 12 teams.
In a move that is being hailed as a first in professional sports, the BIG3 is presenting decentralized team ownership. Anyone interested in team ownership will have two options comprised of 1,000 editions: 25 Fire priced at $25,000 each and 975 Gold priced at $5,000
each.“This is team ownership in the 21st century,” Ice Cube said in a written statement.
“We’ve created a special bond with our fans since our first game in 2017 and this is the natural next step,” he added. “We want fans to feel even more invested in their favorite squad, more connected to their favorite player, and provide them with the opportunity to grow with us. While other leagues are flirting with fan ownership, none of them have more meat on the bone than BIG3 team owners.”
With ownership, all editions will include voting rights toward team actions, gameday experiences, and VIP tickets to all games as well as merchandise and memorabilia. Also included in the Fire editions are exclusive intellectual property and licensing rights to team names, logos, and merchandise as well as additional game day activations. .
“When we founded the BIG3 five seasons ago, our mission was to build a league that was innovative and created opportunities for players and fans alike that other leagues lack,” said BIG3 co-founder, Jeff Kwatinetz.
“We are thrilled to be lowering the barrier to entry to team ownership so our fans can take their investment to the next level. This is a tremendous step for our league and the sport as a whole, and I can’t wait to meet our new owners and begin to build this league alongside them.”