On Monday, Unrivaled, an innovative startup basketball league dedicated to women’s 3×3 basketball, proudly announced that it has successfully completed a Series A funding round, raising an impressive $28 million. This pivotal achievement speaks volumes about the league’s unique vision and potential, especially as it gears up for its inaugural season. Alex Bazzell, the President of Unrivaled, expressed his enthusiasm in a recent press release, emphasizing that although the athletes have yet to hit the court, the foundational partnerships being forged truly underline the league’s ambition and readiness for the future.
With this latest injection of capital, Unrivaled’s funding for the year totals a remarkable $35 million, considering it had gathered $7 million in a preceding seed round announced in May. The financial strength of the league is further reinforced by the backing of notable figures, including NBA superstar Giannis Antetokounmpo and Olympic legend Michael Phelps, who joined family investors, the Bermans, in this round. This array of influential supporters not only signifies a solid investment base but also highlights the confidence in Unrivaled’s potential to capture the attention of basketball enthusiasts.
Founded in 2023 by celebrated WNBA talents Breanna Stewart and Napheesa Collier, Unrivaled is distinct for its player-focused approach. The league prides itself on offering every player an equity stake and a tangible interest in the organization’s success. This groundbreaking initiative aims to empower female athletes in ways previously unrealized in the realm of women’s professional sports. The league has already recruited 36 top-tier players, promoting an environment not just of competition but of collaboration and shared ambitions.
Competing for Equality in Salaries
While the Women’s National Basketball Association (WNBA) has made commendable strides in popularity, salaries for rookies remain meager compared to their male counterparts. For instance, emerging stars like Caitlin Clark and Angel Reese are looking at base salaries slightly over $70,000, which starkly contrasts with the millions garnered by rookies in the NBA. Unrivaled positions itself as a revolutionary alternative, aiming not only to elevate salaries but to ensure that players receive compensation reflective of their talent and market value.
Strategic Partnerships and Broadcast Deals
In a significant move to bolster its visibility, Unrivaled announced a partnership with Under Armour as its official uniform supplier. Additionally, the league has struck a multiyear media rights agreement with Warner Bros. Discovery, ensuring that its games will be aired on major networks such as TNT and truTV, as well as through streaming platform Max. The participation of WBD in the Series A funding round underscores the league’s credibility and market potential, paving the way for accessible broadcasts for fans.
Looking Ahead
As Unrivaled prepares to launch its inaugural season on January 17, the excitement surrounding this league is palpable. With substantial financial backing, an innovative approach to player equity, and strategic partnerships forming a solid foundation, Unrivaled is primed to disrupt the landscape of women’s professional sports, setting a remarkable precedent for future leagues and athletes alike. As these athletes prepare to take to the court, their journey is about much more than just the game; it’s a quest for equality, recognition, and empowerment.