BIG3 co-founder Jeff Kwatinetz received death threats from investors
Basketball and millions of dollars were the cause of the tension between BIG3 co-founder and an investment group Sport Trinity, tension that reportedly that led to death threats.
The BIG3 is gearing up for a follow up to its inaugural season which saw the league take former NBA All-Stars across the country in a barnstorming tour. For all of the successes that the BIG3 saw during its first season, there were myriad challenges — one of which included a death threat lobbed at co-founder Jeff Kwatinetz.
Kwatinetz and his co-founder Ice Cube were looking for additional investors in the offseason to help build upon their first season. After “turning down a number of investors,” then commissioner Roger Mason introduced them to the Qatar Investment Authority, a group called Sport Trinity which includes the half-brother of the Emir of Qatar (the country’s monarch and head of state).
The BIG3 came to terms with the group that would give Sport Trinity an interest which was not to exceed no more than 15 percent. In return, Sport Trinity was supposed to pay “$11.5 million upfront and would contribute $9 million in sponsorship money over three years” along with potential deals with Qatar Airways and beIN Sports.
Instead, Sport Trinity only paid $6.5 million, leading to a lawsuit from the BIG3 and Kwatinetz — and this is where things start to get wild.
Following the end of the first season, Sport Trinity still hadn’t paid the remainder of their balance and only paid an additional $1 million in December. Following the death of Rasual Butler, the two sides finally met face to face at his memorial service, Ahmed Al-Rumaihi of the group waited in his Bently during Butler’s memorial service and approached Kwatinetz when it finished.
According to the lawsuit, Al-Rumaihi told Kwatinetz that he wouldn’t pay the remaining balance, demanded a 25 percent interest in the league and said that Kwatinetz “should show him “respect as a royal family member.” According to the Washington Post, Kwatinetz wasn’t happy and things escalated from there.
"“Mr. Kwatinetz informed him that respect came with paying monies owed now over six months and refraining from constant lies,” the complaint states. “Al-Rumaihi became incensed and loudly screamed at Mr. Kwatinetz and threatened his life and his family noting ‘You don’t know who I know in LA and what they’re capable of. You should think of your safety and the safety of you and your family.’ ”"
Kwatinetz would later hire security to protect himself, his family and BIG3 employees.
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Mason, who introduced the two sides, was eventually fired from his role as commissioner when Mason refused to participate in the investigation into Sport Trinity. Mason responded by issuing a statement in which he accused the BIG3 of racism in the workplace, calling the league “hostile and corrupt.”
Ice Cube and Kwatinetz are seeking $1.2 billion in damages from Sport Trinity.