Unrivaled, a startup basketball league, revealed on Monday that it has finished a Series A investment round, raising an extra $28 million ahead of its debut season.
According to a news release from Unrivaled President Alex Bazzell, “Our players haven’t even taken the court yet, and the foundation we are building with our partners unites unparalleled expertise, strategic insight, and an incredible product.” We’re working together to lay the groundwork for Unrivaled in the years to come.
The 3×3 women’s basketball league has already raised $35 million in 2024 after securing $7 million in a seed round that was revealed in May. The Berman family led the most recent round, which also featured 28-time Olympic medalist Michael Phelps and NBA star Giannis Antetokounmpo.
WNBA players Breanna Stewart and Napheesa Collier co-founded Unrivaled in 2023. According to the news release, the player-owned company will provide each Unrivaled player with equity and a stake in the company’s success.
The league claims to offer the highest average wages of any women’s professional sports league and has signed 36 elite players.
Superstar rookies Caitlin Clark and Angel Reeser received basic wages of just over $70,000, but the Women’s National Basketball Association has experienced exponential development in recent years. In contrast, top rookies in the National Basketball Association received millions of dollars in their first year.
Last week, Unrivaled said that Under Armour was now its official uniform partner. Additionally, it has a multi-year exclusive media rights agreement with Warner Bros. Discovery to broadcast its games on streaming services Max, TNT, and truTV. The league announced on Monday that WBD took part in the Series A fundraising round.
USC guard JuJu Watkins, University of South Carolina women’s basketball head coach Dawn Staley, and private investor Marc Lasry were also involved in the round. Former backers include actor and investor Ashton Kutcher and soccer sensation Alex Morgan.
The first season starts on January 17.
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