BIG3, the professional 3-on-3 basketball league founded by O’Shea Jackson Sr., known as Ice Cube, and Jeff Kwatinetz, announced plans to become the first publicly traded professional sports league in the United States through a business combination with special purpose acquisition company Graf Global Corp.
Upon completion of the transaction, the combined company will be renamed Big3 Basketball Holdings and is expected to trade on the New York Stock Exchange, NYSE American, or Nasdaq under the ticker symbol “TONT,” a reference to 3-on-3 basketball. The deal is expected to close in the fourth quarter of 2026.
The transaction values BIG3 at $290 million on a pre-money basis, excluding potential earnout shares tied to future stock price performance. Existing BIG3 shareholders are expected to convert 100% of their equity and equity-linked interests into shares of the combined public company.
The transaction requires at least $50 million in net cash proceeds. Graf Global’s trust account held approximately $249 million as of June 10, 2026, although shareholders have redemption rights tied to both the extension vote and the final business combination vote.
Following the merger, the company will continue to be led by BIG3’s current management team, including co-founder and Chief Executive Officer O’Shea Jackson Sr. (Ice Cube), co-founder and Chairman Jeff Kwatinetz, President Sean Bannon, and Commissioner Clyde Drexler.
Founded in 2017, BIG3 has established itself as one of the leading professional 3-on-3 basketball leagues, featuring former NBA stars, Hall of Fame coaches, and city-based franchises. The league enters its ninth season on June 20, 2026, with games broadcast by CBS and international distribution partners including Migu in China and TV Globo in Brazil.
The league reported average viewership exceeding 550,000 viewers on CBS and more than one billion social media impressions during the previous season. BIG3 currently features eight city-based teams, four of which are independently owned.
The league has also positioned itself as an innovator in professional sports, becoming the first major league to implement a mental health policy, support CBD as an alternative to opioid pain management, employ female coaches for men’s teams, and appoint a former player, Hall of Famer Clyde Drexler, as commissioner.
Support: MC Strategic Advisors served as financial advisor to BIG3. White & Case acted as legal advisor to Graf Global, while Ellenoff Grossman & Schole served as legal counsel to BIG3.
KEY QUOTES:
“We are excited for BIG3 to be the first publicly traded professional sports league in the US. Leading a new generation of emerging sports, BIG3 connects basketball to culture, fans and our team communities. Going public is our next step. This lifts us to a bigger stage, accelerates our international potential and gives our fans a way to grow with us, support us and participate in our success.”
O’Shea Jackson Sr. (Ice Cube), Co-Founder And Chief Executive Officer, BIG3
“Cube and I are proud of what BIG3 has done over the last eight seasons and are excited to begin our ninth season on June 20 in Los Angeles. Everything is coming together this year. With some of the world’s most respected coaches and players, more than 550,000 average viewers on CBS and more than a billion social media impressions last season, teams now located in eight cities, worldwide distribution of our games, including on Migu and recognized as the premier 3-on-3 league in the world, we are at an inflection point. The public listing will provide capital and acquisition currency to take best advantage of our highly scalable platform, dominant brand, experience, leadership and opportunities in 3-on-3 basketball and the emerging sports market generally.”
Jeff Kwatinetz, Co-Founder And Chairman, BIG3
“We are excited to partner with Cube, Jeff and their team to bring BIG3 to the public markets. There are few, if any opportunities for public markets investors to own equity directly in professional sports leagues or teams. We believe such investments may deliver uncorrelated returns over time, especially seeing the appreciation of team values and the growth of sports advertising across media. As a cultural icon, Cube transcends boundaries. He and Jeff have been visionaries on what audiences want and we believe in their ability to deliver the ‘next big thing’ again as they have done repeatedly over the years. We have high hopes for where they can take BIG3 in the future as a well-capitalized public company.”
James Graf, Chief Executive Officer, Graf Global Corp.
