As the BIG3 nears its fifth season, the professional basketball league co-founded by the rapper and businessman Ice Cube gives fans the opportunity to hold a minority stake in its 12 teams.
In a move that is hailed as a first in professional sports, the BIG3 introduces decentralized team ownership. Anyone interested in team ownership will have two options consisting of 1,000 editions: 25 Fire at the price of $25,000 each and 975 gold coins at the price of $5,000 each.
Want to own a team in the BIG3? https://t.co/frYSRs9OLk
— Ice cube (@icecube) April 4, 2022
“It’s team property in the 21st century,” Ice Cube said in a written statement.
“We have created a special bond with our fans since our first game in 2017 and this is the next natural step,” he added. “We want fans to feel even more invested in their favorite team, more connected to their favorite player, and give them the opportunity to grow with us. While other leagues flirt with fan ownership, none of between them has more meat on the bone than BIG3 team owners.
With ownership, all editions will include voting rights for team actions, game experiences, and VIP tickets to all games as well as merchandise and memorabilia. Fire Editions also include exclusive intellectual property and license rights to team names, logos and merchandise, plus additional game day activations. .
“When we founded BIG3 five seasons ago, our mission was to build an innovative league and create opportunities for players and fans that other leagues lack,” said BIG3 co-founder, Jeff Kwatinetz.
“We are thrilled to lower the barrier to entry into team ownership so our fans can take their investment to the next level. This is a great step for our league and the sport as a whole, and I can’t wait to meet our new owners and start building this league with them.