The Big3 basketball league plans to become the first publicly traded professional sports league in U.S. history through a $290 million business combination agreement.
After closing, the combined entity will be renamed Big3 Basketball Holdings, Inc. Management expects to list the company on the New York Stock Exchange, NYSE American, or Nasdaq in the fourth quarter of 2026. The ticker symbol will be TONT, referencing three-on-three.
Key upcoming milestones for the Big3 include securing regulatory approvals for the merger and finalizing the business combination with Graf Global Corp. The league also plans to expand its franchise model by announcing and selling more city-based teams before the public listing. Effective investor communications and preparation of financial disclosures will be essential before the anticipated public market debut in 2026.
This initiative enables fans to purchase shares of the league, becoming part owners and participating directly in its potential growth, a privilege traditionally reserved for institutional investors or billionaires. Shares are expected to be available to the public through major online brokerage platforms once the company is listed. Interested fans can use new or existing brokerage accounts to buy and sell Big3 stock, following standard procedures for publicly traded companies.
“You can’t participate in the upside of the team besides winning,” Ice Cube said in an interview with Bloomberg. “And we need the fans for the league to be successful, so it’s a match made in heaven.”
While TKO Group Holdings, parent company of UFC and WWE, has been publicly traded since September 2023, major American team sports leagues such as the NBA, NFL, and MLB remain private. This highlights the Big3’s pioneering approach.
The Big3 is shifting from a touring model to city-based teams. In 2024, it sold its first local franchise in Los Angeles to DCB Sports for $10 million. The league plans to establish more city-based franchises in upcoming seasons, targeting major metropolitan areas such as New York, Chicago, Miami, and Houston. This expansion aims to build local fan bases and support long-term growth by entering markets with strong basketball cultures.
The ninth season begins June 20 in Los Angeles with four games, including Detroit Amps vs. DMV Trilogy and LA Riot vs. Miami 305. The championship game will be held on Aug. 22 in Charlotte, North Carolina.