The Big3 basketball league has made its first team sale in a deal worth $10M. A group led by investment firm DCB Sports is acquiring the team, which is set to be based in L.A. The Big3 is "transitioning from a touring league to a city-centric model" and has put all 12 of its teams on sale. Management "plans to announce four new ownership groups by the start of the season in June" and "hopes to have all their teams sold by summer of 2025 to kick off the new format." The league "plans to make London and Toronto home cities for its teams" as well, though it "hasn’t yet named more markets" in the U.S. Big3 co-founder Jeff Kwatinetz said that management is "considering expanding to 16 teams as soon as 2025" (BLOOMBERG NEWS, 5/10).
ADDITIONAL SECTIONS
SBJ Morning Buzzcast: June 21, 2024
Behind the scenes of Major League Baseball at Rickwood Field; Stanley Cup Final's viewership momentum and the LA Kings unveil new logo; what's next for ABC/ESPN after JJ Redick is hired as Lakers' coach?
Fox Sports’ Alexi Lalas, Roku’s Joe Franzetta and the NBA moves forward
On this week’s pod, SBJ’s Austin Karp and basketball writer Tom Friend put a bow on NBA Finals viewership and look ahead at what’s next for league’s media rights deals. Later in the show, Karp catches up with some sports media newsmakers. The first interview is with Fox Sports’ Alexi Lalas. The U.S. Soccer Hall of Famer talks about his role as lead studio analyst for the UEFA Euros and Copa America, as well as how MLS is at an inflection point for media coverage . Next, Joe Franzetta of Roku drops in to talk about his platform’s new MLB deal, efforts around the Olympics and Formula E and how the company is navigating the live sports rights landscape.
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