Startup basketball league Unrivaled announced on Monday it’s closed a Series A funding round, raising an additional $28 million before 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,” Unrivaled President Alex Bazzell said in a press release. “Together, we’re setting the stage for Unrivaled for years to come.”
The 3×3 women’s hoops league already secured $7 million in a seed round announced in May, meaning the league has received $35 million in total funds in 2024. The latest round was led by the Berman family and also included NBA champion Giannis Antetokounmpo and 28-time Olympic medalist Michael Phelps, among others.
Unrivaled was co-founded in 2023 by WNBA stars Breanna Stewart and Napheesa Collier and advertises that the player-owned organization will give every Unrivaled player “equity and a vested interest in its success,” according to the press release.
The league has signed 36 top players and said it offers the highest average salaries across any women’s professional sports league.
While the Women’s National Basketball Association has seen exponential growth in the last few years, superstar rookies Caitlin Clark and Angel Reese received base salaries just over $70,000, compared with star rookies in the National Basketball Association who received millions their first year.
Unrivaled announced last week it had signed Under Armour as its official uniform partner. It’s also signed an exclusive, multiyear media rights deal with Warner Bros. Discovery to air its games on TNT and truTV, as well as streaming platform Max. WBD participated in the Series A funding round, the league said Monday.
The round also included private investor Marc Lasry, University of South Carolina women’s basketball head coach Dawn Staley, and USC guard JuJu Watkins. Previous investors include soccer phenom Alex Morgan and actor and investor Ashton Kutcher.
The inaugural season begins on Jan. 17.