Data, analytics and premium experiences business Legends is buying a minority stake of upstart hockey league 3ICE and will be managing several lines of business for the independent league.
Legends’ level of investment into 3ICE isn’t being disclosed. It joins Chicago venture capital firm KB Partners as the second publicly disclosed investor in the league.
Teaming with Legends “is a large step forward that continues our rapid growth and further validates our business and will translate into better experiences for all of our fans, sponsors, players, investors and every division within 3ICE,” E.J. Johnson, founder and CEO of 3ICE, said.
Inspired by the NHL’s sudden death overtime format, 3ICE is a three-on-three ice hockey league, featuring six teams coached by former NHL players. Games are 16 minutes long, split into two eight-minute periods. The first season was held this past summer, an eight-city tournament that concluded in Las Vegas, which was covered by the CBS Sports streaming network. Its second season will happen in the summer of 2023.
Legends will also handle management of several revenue-generating business lines for 3ICE, including sponsorships, merchandise across retail channels, media strategy and buying. The league will also have access to Legends’ servicers for planning, sales and hospitality as 3ICE expands.
Legends was founded by the Dallas Cowboys and New York Yankees. Now majority-owned by investment firm Sixth Street, Legends has been taking minority stakes in sports enterprises over the past year, including an equity stake in American Ultimate Disc League and cycling’s TeamTrak. It also has an undisclosed interest in businesses resulting from revamping the stadium of Spanish soccer powerhouse Real Madrid.