Ice Cube’s 3-on-3 Basketball League Set to Expand to New York

Ice Cube’s 3-on-3 basketball league is in advanced talks to sell the licensing rights for expansion teams in New York and Arizona following its eighth and most successful season.

The Big3 league has entered due diligence with the potential buyers and has hired investment bank Park Lane to advise on the deals that will value the teams between $13 million and $20 million, according to Jeff Kwatinetz, who co-founded the league with Ice Cube.

“It’s not just about selling teams, it’s about bringing on partners who are going to help evolve this league to the next level,” Kwatinetz ...