Ice Cube and BIG3 Partner File $1.2B Lawsuit Against Qatari Investors
According to TMZ, Ice Cube and the BIG3 league have filed a major lawsuit against Qatari investors for $1.2 billion. Cube and the 3-on-3 league he founded and developed for retired NBA players are suing the “Qatari Investment Authority” for failing to hold up their end of the agreement of a $5 million initial investment on the league and to become passive investors. But unfortunately the Qatari Investment Authority “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.”
After trying to reach an agreement, Cube’s business partner Jeff Kwatinetz was allegedly threatened by one member of the investment group who stated, “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.”
Cube and Kwatinetz are now both seeking $1.2 billion in damages with the intention of paying each player in their league a piece $20 million.
Posted by member Aisha Templar from http://feedproxy.google.com/~r/bossiprss/~3/Rjlu3uaq0TM/ via RSS feed. Copyright belongs to Bossip.com. Permission per paragraph 3 of bossip.com ToS (https://ionedigital.com/wp-content/uploads/2017/05/BHM-Terms-of-Service-Final-5-5-2017.pdf).