Unrivaled, the 3‑on‑3 women’s basketball league founded by WNBA stars Breanna Stewart and Napheesa Collier alongside CEO Alex Bazzell, announced a new valuation of $650 million after closing a Series C financing round that raised over $100 million. The round was led by Ten Pillars Sports Fund, an investment vehicle backed by UC Investments, and was oversubscribed, indicating strong confidence from the sports‑investment community.
Key Investors and Player Ownership
Among the investors who reinvested were former NBA star Carmelo Anthony, UConn women’s basketball coach Geno Auriemma, Washington Wizards guard Trae Young, former U.S. soccer star Alex Morgan, Trybe Ventures, and actor‑entrepreneur Ashton Kutcher. The league’s structure continues to prioritize player ownership: the player equity pool is now valued at nearly $200 million, representing roughly 30 percent of the total valuation. According to Bazzell, at least 95 percent of the league’s athletes hold some form of equity, and every one of the 36 players who signed for the inaugural season received an ownership stake.
Financial Guarantees and Salary Commitments
Unrivaled has also committed to guaranteeing six‑figure salaries for all players since its debut in 2025, reinforcing its reputation as a financially stable professional environment for women’s basketball athletes. The league’s financial health is further underscored by its ability to attract high‑profile investors and maintain a robust equity pool for its players.
Growth Plans for the 2027 Season
Looking ahead to its third season, Unrivaled has already signed more than 90 percent of its 2027 roster, adding notable talents such as Olivia Miles and Gabby Williams. Expansion efforts will focus on increasing the league’s geographic footprint rather than adding more teams. After selling out games at NBA arenas in Brooklyn and Philadelphia last season, the league plans approximately eight road stops in 2027.
The league’s current home venue, Sephora Arena near Miami, seats about 1,000 fans. Bazzell indicated that the arena will be outgrown by 2028, and the organization is evaluating larger venues with capacities ranging from 2,500 to 4,000 spectators to accommodate growing fan interest.
Implications for Women’s Sports
The substantial increase in valuation—from $340 million after the Series B round in September 2025 to $650 million—highlights the rapid commercial growth of women’s basketball and the broader acceptance of alternative formats like 3‑on‑3. Industry observers see Unrivaled’s success as a testament to the market demand for high‑quality, player‑focused sports enterprises that combine competitive play with meaningful ownership opportunities for athletes.
Unrivaled’s trajectory suggests that investors, sponsors, and fans are increasingly willing to support women’s sports ventures that deliver both entertainment value and financial sustainability. As the league prepares for its next season, the focus will remain on delivering competitive games, expanding its fan base, and continuing to provide players with a stake in the league’s future success.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
