In a significant development for women’s professional basketball, the startup league Unrivaled has successfully closed a Series A funding round, securing an impressive $28 million ahead of its inaugural season. This achievement is indicative of a transformative movement in women’s sports, providing both financial backing and credibility that could reshape the landscape of women’s basketball. President of Unrivaled, Alex Bazzell, expressed confidence in the foundation being laid with strategic partners, underscoring the potential for long-term success within the league.
Having raised a total of $35 million in 2024 alone, including a $7 million seed round earlier this year, Unrivaled is positioning itself as a viable competitor to established leagues. The latest round was backed by prominent figures, including the Berman family, NBA champion Giannis Antetokounmpo, and Olympic standout Michael Phelps. This array of high-profile investors highlights the growing enthusiasm for women’s professional sports and the belief in Unrivaled’s potential.
Co-founded by WNBA icons Breanna Stewart and Napheesa Collier, Unrivaled has focused on creating a league with a unique player-centric approach. By offering equity in the organization, the league aims to ensure that each of its players has a vested interest in its success, a departure from the traditional structures often seen in professional sports.
One of the standout features of Unrivaled is its commitment to offering the highest average salaries within any women’s professional sports league. This progressive strategy addresses longstanding disparities in pay between women’s and men’s leagues; for comparison, star rookies in the WNBA typically earn around $70,000, while their NBA counterparts can make millions in their inaugural season. Unrivaled’s financial model not only attracts elite athletes but also promotes an environment that values women’s sports as a legitimate business.
Moreover, the league has started to build its brand through key partnerships, including a recent agreement with Under Armour as its official uniform partner. This partnership, along with a multiyear media rights deal with Warner Bros. Discovery to broadcast games on TNT and truTV, signifies a robust strategy to gain visibility and reach broader audiences.
Unrivaled is set to begin its inaugural season on January 17, 2024. With a roster comprising 36 top-tier players and a strategic framework designed for sustainability, the league is poised for significant impact. Stakeholders, from private investors like Marc Lasry to sports figures including Dawn Staley and Alex Morgan, are rallying behind this initiative, showcasing broad support and a community eager for change.
As Unrivaled prepares for its debut, it represents not just a new league but a significant shift in how women’s sports are perceived and valued. The fusion of financial support, empowering organizational structures, and passionate leadership could potentially pave the way for a new era in women’s basketball, making it a cornerstone of the sports industry.
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