Chicago Sky coach Teresa Weatherspoon addresses her players during the first half of a WNBA basketball game against the New York Liberty on May 23, 2024 in New York.
Frank Franklin II | AP
Upstart basketball league Unrivaled announced Monday that it has closed its Series A funding round, raising an additional $28 million. before the opening season.
“Our players haven’t even stepped on the court yet, but the foundation we’re building with our partners is a combination of unparalleled expertise, strategic insight, and incredible “We’re integrating our products.” “Together, we will set the stage for Unrivaled for years to come.”
The 3×3 Women’s Hoop League has already secured $7 million in a seed round announced in May, meaning the league will receive a total of $35 million in funding in 2024. The latest round was led by the Berman family and included 28-time NBA champion Giannis Antetokounmpo. Olympic medalist Michael Phelps.
Unrivaled will be co-founded in 2023 by WNBA stars Brianna Stewart and Nafeesa Collier, and the player-owned organization will give all Unrivaled players “equity and a vested interest in success,” according to a press release. It is advertised as
The league has 36 top players under contract and offers the highest average annual salary of any women’s professional sports league.
The Women’s National Basketball Association has seen tremendous growth in recent years, but the National Basketball Association’s star rookies received millions of dollars in their first year, compared to superstar rookies Caitlin Clark and Angel. Reese received a base salary of just over $70,000.
Unrivaled announced the deal last week under armor As an official uniform partner. The company has also signed a multi-year exclusive media rights agreement. warner bros discovery The game will be broadcast on TNT and truTV, as well as streaming platform Max. WBD participated in a Series A funding round, the league announced Monday.
Also participating in the round were private investor Mark Lasry, University of South Carolina women’s basketball head coach Dawn Staley, and University of Southern California guard JuJu Watkins. Previous investors include soccer genius Alex Morgan and actor and investor Ashton Kutcher.
The first season begins on January 17th.
