December 18th 2024.
A groundbreaking new three-on-three women's basketball league, Unrivaled, has been making waves in the sports world. Founded by WNBA stars Napheesa Collier and Breanna Stewart, the league aims to provide additional income for WNBA players during the off-season. And this week, they announced that they have successfully raised $35 million in their Series A investment round, with the Berman Family leading the way.
Alex Bazzell, president of Unrivaled and Collier's husband, expressed his excitement about the league's potential in a press release. He stated that the league has not even played a single game yet, but the support and resources they have received from their partners are unparalleled. Bazzell believes that this is just the beginning for Unrivaled and they are setting the stage for a successful future.
According to Sportico, the financial details of the investment were not disclosed. However, it is worth noting that big names like NBA star Giannis Antetokounmpo, University of South Carolina women's basketball coach Dawn Staley, and USC star guard Juju Watkins have all shown their support for the league by investing in it.
Bazzell shared that during the investment round, they made it a priority to accept investments from individuals and entities with a strong connection to sports. He also mentioned that Watkins, a sophomore player, was determined to invest in the league rather than just accepting an NIL (Name, Image, and Likeness) deal that offers equity.
"We need partners who can see our vision and aren't solely focused on the potential for a quick exit," Bazzell told Sportico. "But more importantly, we need partners who are willing to put in the work and use their networks to help us grow and succeed."
He added, "Our main focus was to invest in our players and provide them with the resources they need to make a great first impression. The amount we raised gives us the flexibility to not have to be perfect right out of the gate, but to have enough runway for multiple years before we have to think about our next potential investment."
Bazzell also confirmed that the league's players will receive a starting salary from an $8 million pool. The average salary for players will be $242,000, but if all 48 slots are filled, it will be $222,000. This is a significant increase compared to the WNBA's current max salary of $214,000.
Moreover, each player will also receive a stake of equity in the league, which adds value to their contracts. And as for the coaches, Bazzell emphasized that they have extensive backgrounds in player development.
The league is set to run for nine weeks, starting on January 17, and will take place in a state-of-the-art venue being constructed in Miami. This venue will have everything the players need, including a childcare center. Bazzell believes that this will be a game-changer for female athletes, as it shows that the league values and supports them both on and off the court.
"The data speaks for itself," Bazzell stated. "When you look at the current state of women's sports, it's not as saturated as men's sports. There are so many different leagues and teams to watch in men's sports, but women's sports are still at a tipping point. We expect to see even more growth in the coming years, especially with the increasing viewership numbers for women's basketball."
In addition to the league, Unrivaled has also made headlines for signing Flau'jae Johnson, a rising hip-hop artist, as a brand ambassador. She will also have a role as a commentator and analyst for the league. With all this support and momentum, it's clear that Unrivaled is on its way to becoming a major player in the world of women's sports.
[This article has been trending online recently and has been generated with AI. Your feed is customized.]
[Generative AI is experimental.]
