Ice Cube and his BIG3 business partner, Jeff Kwatinetz, have just filed a $1 billion lawsuit against the league’s investors in their failure to fully fund their investment.
In documents obtained by TMZ Sports, Cube and Kwatinetz say several Qatari investors, including the CEO of the Qatari Investment Authority, Sheikh Abdulla bin Mohammed bin Saud Al Thani, finessed the basketball league out of their supposed $5 million investment. Instead, according to the suit, they bragged about their wealth and dropped stacks on their own personal endeavors.⠀⠀⠀⠀⠀⠀⠀⠀⠀
“These members and associates of the royal family made excuse after excuse for not paying, all of which is documented in text messages and emails, where the blame for their failure to fund the millions they owed the BIG3 ran the gamut from their ‘sinuses,’ ‘hiking,’ it being a ‘long day bro,’ and to bad press regarding Qatar associations with alleged funding of terrorism,” the suit read.
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“Also, like a simple debtor in hiding from a collection agency, these Defendants with their purported links to the Qatar royal family, would go into hiding and refused to return phone calls and ignore Plaintiffs.”
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In fact, according to Cube, one of the investors even threatened Kwatinetz over the constant requests for funding, saying, “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.”
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As a result, the professional duo wants $1.2 billion in damages to pay each player $20 million.
