The 37-year-old was found at 2:30 a.m. local time and died after being transported to a hospital.
According to the Dallas Police Department, two unknown suspects approached Emmett with a handgun and shot him as he attempted to run. There are reportedly no suspects at this time, but the investigation is ongoing.
Emmett spent the last two seasons in the BIG3, ranking second in the league in points scored this past season behind only Joe Johnson.
The league released a statement on Emmett's death:
He also had an extensive international career as well as parts of two seasons in the NBA with the Memphis Grizzlies and New Jersey Nets. The 2004 second-round draft pick appeared in 14 total games but his two stints came seven years apart.
Emmett also starred at Texas Tech from 2000-04, earning All-America honors during his senior season.