BIG3 Files Suit Against Qatari Investors for $1 Billion over Non-Payment

Ice Cube and Jeff Kwatinetz, the co-CEOs of the BIG3 basketball league, are reportedly suing Qatari investors in the league for not honoring their financial commitments.

TMZ Sports reported the news, noting it obtained the complaint that reveals Ice Cube and Kwatinetz filed a $1 billion lawsuit against multiple investors, including Sheikh Abdulla bin Mohammed bin Saud Al Thani, the CEO of the Qatari Investment Authority.

According to TMZ, Ice Cube said the investors were going to invest $5 million and not be involved in league decision-making, but they "quickly started to insinuate themselves into the affairs of BIG3 despite failing to live up to even their most basic obligation to fully fund their investment."

Ice Cube also said Ahmed Al-Rumaihi, another investor, threatened Kwatinetz when asked for the money, telling him: "You don't know who I know in L.A. and what they're capable of. You should think of your safety and the safety of you and your family."

The BIG3 is a three-on-three league that plays in the summer and features a number of former NBA players on its rosters.

It announced the 2018 schedule in March, and the second season of the league will start in Houston on June 22. The teams visit Chicago, Oakland, Detroit, Miami, Toronto, Boston, Atlanta and Dallas in subsequent weeks, and a champion will be determined in Brooklyn, New York, on Aug. 24.

Players such as Metta World Peace, Amar'e Stoudemire, Baron Davis and Nate Robinson will join the league in 2018.