What's happened
Unrivaled has secured a Series C that values the women’s 3-on-3 league at $650 million, nearly doubling from last year. The round includes Ten Pillar Sports Fund and UC Investments, with notable backers like Carmelo Anthony, Alex Morgan, Geno Auriemma and Trae Young. Player equity pools have grown to about $200 million as the league expands its footprint and tour stops.
What's behind the headline?
Key takeaways
- The valuation signals growing investor confidence in player-owned models within women’s sports.
- The fundraising is driving expansion plans, including eight tour stops in 2027 and a broader media footprint via TNT.
- Competing projects like Project B are entering the market, potentially reshaping the landscape for pro women’s basketball.
What this means for players and fans
- Athletes hold equity that aligns with long-term growth, which could reshape earnings and career pathways.
- Fans can expect more games, better facilities, and higher-profile events as the league scales.
Outlook
- Expect continued rounds as the ecosystem matures; governance and revenue-sharing structures will be scrutinized as player ownership expands.
How we got here
Launched in 2023, Unrivaled provides a domestic offseason platform for top women’s basketball players and has built a Miami campus while expanding to eight teams and a broader tour. This funding marks a pivotal step toward scaling operations, facilities, and media reach as competition intensifies.
Our analysis
The AP News report notes a near-doubling valuation to $650 million, with a player equity pool valued at about $200 million. Bloomberg corroborates the overall valuation and adds investor names. The New York Post provides detail on ownership structure and market expansion, including tour stops and a Miami campus. All reports highlight the growth trajectory and the competitive pressure from Project B.
Go deeper
- Will the player equity pool affect salaries across the league?
- How will tour stops and TNT rights influence fan engagement?
- What terms are attached to the new investments for players?
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