Unrivaled announces new funding that sets league valuation at $650 million

Key Points:

• Unrivaled, a professional three-on-three women’s basketball league co-founded by WNBA stars Breanna Stewart and Napheesa Collier, announced a Series C funding round that values the league at $650 million, surpassing all previous funding combined.
• The player-equity pool has increased to nearly $200 million, with players remaining the largest shareholder group, highlighting the league’s unique model of providing players with ownership stakes alongside salaries.
• The Series C round was led by Ten Pillar Sports Fund and included investments from prominent sports figures and celebrities such as Carmelo Anthony, Trae Young, Geno Auriemma, Alex Morgan’s Trybe Ventures, Ashton Kutcher, and Bessemer Venture Partners.
• Unrivaled will enter its third season on January 8, 2025, maintaining six-player rosters and a developmental pool, with plans to expand roster spots and increase tour stops from two to about eight nationwide in 2026.
• The league is in a six-year media rights deal with TNT and aims to improve scheduling to avoid conflicts with major sporting events, while also planning to move from its current venue at Sephora Arena to a more innovative space in the future.