In an announcement that could reshape the landscape of women’s professional sports, the startup basketball league Unrivaled revealed the closure of its Series A funding round, which garnered an impressive $28 million. President Alex Bazzell expressed optimism about the league’s potential, emphasizing their strategic partnerships and commitment to building a solid foundation before players even step onto the court. This substantial financial backing, coupled with the earlier $7 million seed funding in May, underscores the confidence investors have in Unrivaled as it gears up for its inaugural season.
Launched in 2023 by prominent WNBA stars Breanna Stewart and Napheesa Collier, Unrivaled positions itself as a player-centric organization. The innovative structure promises equity to all participating players, offering them a stake in the league’s success, which is a significant departure from traditional team structures in professional sports. This initiative could redefine athletes’ relationships with their organizations, allowing them to be not just players but also stakeholders, aiming for sustainable success both on and off the court.
The funding round attracted high-profile investors, such as NBA champion Giannis Antetokounmpo and Olympic legend Michael Phelps. Their involvement signifies not only financial investment but also a shared belief in the league’s vision of empowering women’s sports. The support from notable figures can also enhance the league’s visibility and marketability, attracting more fans and potentially leading to lucrative sponsorship deals. This alliance with renowned athletes solidifies Unrivaled’s credibility in a competitive sports market.
As the Women’s National Basketball Association (WNBA) enjoys unprecedented growth, Unrivaled enters the fray by promising higher average salaries than its competitors. The stark contrast between the earnings of rookies in the WNBA and NBA highlights the persistent disparities in women’s sports. Caitlin Clark and Angel Reese’s salaries of just over $70,000 are dwarfed by their male counterparts, who frequently earn millions. Unrivaled’s strategy of prioritizing player salaries can potentially attract more top-tier talent looking for better financial opportunities.
Further bolstering its operational framework, Unrivaled has secured a partnership with Under Armour for its uniforms. Additionally, the league has inked a groundbreaking media rights deal with Warner Bros. Discovery, ensuring that their games will reach a broader audience through TNT, truTV, and Max. This strategic move can significantly impact the league’s brand recognition and accessibility, marking a pivotal moment in the promotion of women’s sports.
With its inaugural season set to begin on January 17, Unrivaled appears poised to challenge conventional narratives in women’s professional basketball. The infusion of capital, player equity initiatives, and strategic alliances places the league in an advantageous position to not only thrive but also inspire future generations of female athletes. As they aim for success, all eyes will undoubtedly be on Unrivaled to see if it can fulfill its ambitious promise of innovation and equity in sports.