Earlier this month, music and film mogul Ice Cube sold his third team of his 3-on-3 Big3 League to a pair of energy investors with plans to base the team in Houston. According to Bloomberg, Eric Mullins and Milton Carroll purchased the new franchise in a deal worth $10 million. They are preparing to debut the team in the following 2025 season when the franchises will play in their home cities. This news came after the Big 3 sold the rights to the LA and Miami-based BIG3 franchises earlier this year.
“I am so pleased to be bringing another BIG3 franchise to a state that has been so loyal to the BIG3 for so many years,” said BIG3 CEO and co-founder, Ice Cube. “Eric and Milton have been at the top of their game for their entire careers, and I am confident that the Houston BIG3 team will be no different. Their combined experience mirrors that of the BIG3, Eric knows what it’s like to be a player, Milton knows what it’s like to be an owner, and both of them know how to engineer long-term successful resources. Together, I know we will create the perfect environment for our third franchise.”
Mullins, a Houston native, has a background in professional sports as he played wide receiver for the Houston Oilers in 1984. Currently, he holds the position of Chairman and CEO at Lime Rock Resources, a private equity firm specializing in oil and gas. Additionally, he has been involved in board positions at ConocoPhillips and Valero Energy Corporation. Before his current role, Mullins spent fifteen years at Goldman Sachs, where he served as a Managing Director in the Energy and Power Group.
“Milton and I are thrilled to team up and take ownership of this exciting sports property,” said Mullins. “Not only is the on-the-court product captivating, but the way that Ice Cube and Jeff Kwatinetz conduct their league off the court is something to be admired. They really care about the communities they visit and I’m honored to bring that dedication to Houston and am confident that with our combined sports experience, Milton, Ice Cube, Jeff, and I will make the Houston BIG3 team a long-term success.”
Caroll is also a Houston native and a graduate of Texas Southern University with a Bachelor of Science degree in Industrial Technology earned in 1973. He previously held the position of Executive Chairman at CenterPoint Energy, Inc., and currently serves as the Executive Chairman of the Board of Health Care Service Corporation. Additionally, he is the founder and chairman of Instrument Products, Inc., an oilfield equipment manufacturing company. Caroll has been a board member of CenterPoint Energy and its predecessor companies since 1992. Carroll is also a minority owner of the Houston Astros, H-Town professional MLB team.
“Eric and I could not be more excited to bring BIG3 basketball to Texas permanently,” said Carroll. “The BIG3 has a rabid fanbase across our state and we could not be more excited to create a home for those fans in Houston next season. Ice Cube and Jeff Kwatinetz have changed the face of basketball in a remarkable seven seasons, and we are honored to join them for many more seasons to come.”
The league commissioner, Clyde “The Glide” Drexler, who won an NBA championship with the Houston Rockets, is excited that Mullins and Carroll are bringing Big3 basketball to H-Town.
“I could not be happier to see Eric and Milton take the reins of the Houston BIG3 franchise,” said BIG3 Commissioner, Clyde Drexler. “Ice Cube and Jeff Kwatinetz have always surrounded themselves with the best of the best, and I know personally that there could be no better stewards of a Houston team than Eric and Milton. They have a demonstrated ability to build fantastic investments, and on top of that they are strong leaders who are committed to giving back to their communities and I can’t wait to see them bring that energy to this franchise next season.”
Right now, the BIG3 is entering the fourth week of its seventh season. Already, the league has made stops in Oakland, CA, Tampa, FL, and Baltimore, MD, nearly selling out each venue and reaching millions of fans across linear, streaming, and digital platforms.
The upcoming season will mark the conclusion of the BIG3’s touring format as it transitions to a city-based model. The inaugural franchise has been acquired by a consortium spearheaded by investment firm DCB Sports, and it will be located in Los Angeles. Eventually, all 12 teams in the league will be privately owned and will compete in their respective cities.
