Unrivaled women's basketball league is valued at $650 million after new funding round

Unrivaled has raised funds that put its valuation at $650 million, the 3-on-3 women's basketball league announced Wednesday.

That's nearly double its valuation from a year ago, when the league closed a Series B funding round. Unrivaled also announced that the portion of the company owned by its players is valued at nearly $200 million. The league said the player equity pool has increased 550% since it was launched.

Unrivaled president Alex Bazzell said the Series C funding is more than all of the league’s other funding combined. It will help strengthen the league, which will begin its third season this winter.

“This raise reflects the confidence investors have in what we set out to build at Unrivaled: a league where the best players in the world have a real stake in the value they create,” Unrivaled co-founder Breanna Stewart said. “Moving forward, this investment gives us even more resources to support our players, elevate the experience for fans, and grow a league that is shaping the future of women’s basketball.”

Ten Pillar Sports Fund, backed by UC Investments, led the Series C raise, which was oversubscribed. It passed the league's initial $100 million target.

“The moment for women’s sports is here,” said Jagdeep Singh Bachher, UC Investments’ chief investment officer. “Young people get it. We get it. Anyone who’s watched Unrivaled knows this game is every bit as thrilling as any other sport out there. We’re excited to help propel that momentum forward.”

Popular Reads

Country music legend Dolly Parton dies at 80 after 'brief battle with cancer'

• 18 hours ago

'She was suffering': Hayden Panettiere's mom details relationship during final months

• Aug 24

Actress Hayden Panettiere dies at 36, found in cardiac arrest

• Aug 17

Unrivaled, which has eight teams and plays most of its games at a 1,000-seat arena in Miami, had two sold-out tour stops in New York and Philadelphia last year. The league is planning eight tour stops in 2027.

The season will tip off in early January. Unrivaled has a six-year media rights deal with TNT. League ratings were down last season, when Unrivaled went up against the Milan Cortina Olympics and the College Football Playoff.

___

See AP’s full sports coverage here