On Monday, Unrivaled, a promising startup basketball league, made waves in the sports industry by announcing the successful closure of its Series A funding round. The league managed to raise a remarkable $28 million, signaling a strong financial backing ahead of its inaugural season. This achievement highlights not just the potential of Unrivaled but also the increasing interest and investment flowing into women’s sports. Alex Bazzell, the league’s president, expressed deep confidence in the venture, stating that the collaborative efforts with partners are laying a robust foundation that amalgamates expertise and insight, crucial for the league’s long-term aspirations.
With a total funding of $35 million, including an earlier $7 million seed round announced in May, Unrivaled is positioned to make a significant impact on the landscape of women’s professional basketball. The organization is the brainchild of two WNBA stars, Breanna Stewart and Napheesa Collier, who aim to reshape the sporting environment by offering equity to players. This labor of love promises its athletes not just salaries but a stake in the league’s future—a revolutionary move in professional sports that underscores the shift towards a more player-centric model.
With the league having already signed 36 elite athletes, it is making waves by offering what it claims to be the highest average salaries across professional women’s sports. The compensation disparity between leagues is glaring; rookies in the WNBA earn a fraction of what their NBA counterparts obtain. For instance, recent WNBA draftees Caitlin Clark and Angel Reese received base salaries just above $70,000, while many NBA rookies command multimillion-dollar contracts from day one. Unrivaled’s competitive salary structure not only seeks to attract top talent but also aims to solidify the professional status of women’s basketball.
On the partnership front, Unrivaled has secured key alliances, including an official uniform deal with Under Armour. Furthermore, the league is excited to have entered a multiyear media rights agreement with Warner Bros. Discovery to broadcast games on popular networks such as TNT and truTV, in addition to streaming on Max. This strategic approach to media accessibility is crucial in building a robust fan base and promoting visibility for the league.
The list of backers for Unrivaled reads like a who’s who of sports and entertainment, featuring NBA champion Giannis Antetokounmpo, Olympic medalist Michael Phelps, and sports icons like Alex Morgan and Ashton Kutcher. Their involvement not only enhances the league’s credibility but also reflects a broader trend of increasing investment and interest in women’s sports. As Unrivaled prepares for its inaugural season starting January 17, the league stands as a beacon of hope and possibility, promising to elevate women’s athleticism to unprecedented heights.
Unrivaled is not merely a league; it represents a transformative movement within sports, aiming to balance the scales in gender equity while fostering an environment where women’s basketball can truly thrive.