Unrivaled Valued at $650M After Latest Funding Round, Players Own 30%

Unrivaled, a women's basketball league founded in 2025, secured a Series C funding round, raising over $100 million and valuing the league at $650 million. The league's valuation has nearly doubled over the past year, growing from $340 million in September after a $60 million Series B round. Notable investors like Ten Pillars Sports Fund, UC Investments, and prominent sports figures Carmelo Anthony, Geno Auriemma, Trae Young, Alex Morgan, and co-founders Breanna Stewart and Napheesa Collier contributed to the funding.

The league's player equity pool, valued at nearly $200 million or 30% of the company, has grown by 550% since its inception. Unrivaled positions itself as player-driven, offering six-figure salaries to all players and equity stakes. Co-founder Alex Bazzell highlighted the significance of this growth, noting the league's evolution and the foundation they've built.

Despite a decline in TV ratings in its second year, Unrivaled saw success through sold-out tour stops at NBA arenas and plans to expand to more venues by 2028. Project B, a new global league co-founded by Alana Beard, is also set to launch in January, featuring WNBA stars like Nneka Ogwumike and Jonquel Jones, but focuses on international play rather than competing directly with Unrivaled.