Entertainment mogul and BIG3 co-founder Ice Cube is negotiating to sell some of its 12 teams to outside investors. The move is like the model used in the NBA and other major sports leagues, Bloomberg reports.
The basketball league has owned all the teams since its inaugural season in 2017. Last October, the BIG3 announced that it was certified as a Black-owned and operated business by the U.S. Black Chambers, Inc. and ByBlack, making it the first and only professional sports league to receive the certification.
A BIG3 representative did not comment on the article by Bloomberg, however, the publication cited an unnamed person with knowledge as its source of information.