In an exciting development for women’s sports, Unrivaled, a pioneering startup basketball league, has successfully closed its Series A funding round, raising an impressive $28 million. This announcement comes just ahead of their highly anticipated inaugural season, signaling a robust foundation for what is poised to be a transformative force in women’s basketball. Alex Bazzell, the President of Unrivaled, expressed that this influx of capital is not merely a financial achievement but a collaborative effort that melds unparalleled expertise with strategic foresight. He stated, “Our players haven’t even taken the court yet, but the foundation we are building with our partners will lead to unprecedented opportunities in the world of women’s sports.”
The recent funding boost follows a successful seed round of $7 million secured earlier in May, bringing the total raised in 2024 to $35 million before the league has even launched its first game. Such significant financial backing underscores the demand and support for women’s sports, particularly in the wake of the Women’s National Basketball Association’s rapid growth. Unrivaled’s strategy involves not just substantial funding but also leveraging partnerships with notable figures from different arenas. The Berman family spearheaded this funding round, and their involvement, alongside that of NBA champion Giannis Antetokounmpo and Olympic superstar Michael Phelps, showcases the cross-sport support Unrivaled is attracting.
At the heart of Unrivaled’s vision is a commitment to its players, co-founded by WNBA stars Breanna Stewart and Napheesa Collier. Unlike traditional leagues, Unrivaled is structured to offer its athletes equity in the organization, thus providing them a vested interest in its success. This model not only empowers players but also aligns their motivations with the league’s growth. Currently, the league boasts a roster of 36 elite players while ensuring they receive the highest average salaries across women’s professional sports. This approach contrasts starkly with the financial realities faced by newcomers in the WNBA, where star rookies like Caitlin Clark and Angel Reese only earn base salaries of around $70,000.
The establishment of partnerships is a critical aspect of Unrivaled’s strategy. The league recently announced a collaboration with Under Armour as its official uniform partner and inked a significant multi-year media rights deal with Warner Bros. Discovery. This agreement will bring games to a broad audience via TNT, truTV, and streaming service Max, expanding visibility for women’s basketball. The inclusion of well-known investors, including soccer star Alex Morgan and actor Ashton Kutcher, further emphasizes the league’s broad appeal and potential. Their involvement not only signifies financial support but also a collective investment in the upliftment of women’s sports.
As the inaugural season approaches, set to begin on January 17, 2024, Unrivaled aims to redefine expectations for women’s sports leagues through innovation and player empowerment. The dedication and resources poured into this venture reveal a promising trajectory, not only for the league itself but also for the long-term growth and recognition of women’s basketball on a global scale. With a strong foundational strategy, Unrivaled is firmly establishing itself as a significant player in the sports industry, setting the stage for years of success ahead.