Startup basketball league Unrivaled announced on Monday the completion of its Series A funding round, securing $28 million ahead of its inaugural season.
“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,” said Alex Bazzell, Unrivaled’s President, in a press release. “Together, we’re setting the stage for Unrivaled for years to come.”
Founded in 2023 by WNBA stars Breanna Stewart and Napheesa Collier, Unrivaled positions itself as a player-owned league where every athlete receives equity and a vested interest in the league’s success. Following a $7 million seed round announced in May, the league has now raised a total of $35 million in 2024.
The Series A round was led by the Berman family and attracted high-profile investors, including NBA champion Giannis Antetokounmpo and 28-time Olympic medalist Michael Phelps. Other notable investors include private investor Marc Lasry, University of South Carolina head coach Dawn Staley, and USC standout guard JuJu Watkins. Previous supporters of the league include soccer icon Alex Morgan and actor-investor Ashton Kutcher.
Unrivaled has already signed 36 top women’s basketball players and offers the highest average salaries in any professional women’s sports league. The league aims to address the pay disparity in women’s basketball, where even WNBA rookies, such as Caitlin Clark and Angel Reese, receive base salaries of just over $70,000, a stark contrast to the multi-million-dollar contracts signed by their NBA counterparts.
In a significant step forward, Unrivaled recently announced Under Armour as its official uniform partner. It has also secured a multiyear media rights deal with Warner Bros. Discovery (WBD), ensuring its games will air on TNT, truTV, and the streaming platform Max. WBD participated in the Series A funding round, underscoring its commitment to the league’s growth.
The inaugural season is set to begin on January 17, marking the start of a new chapter in women’s basketball. By prioritizing equity, player ownership, and high salaries, Unrivaled aims to redefine professional women’s sports while creating a sustainable model that empowers its athletes both on and off the court.
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