The $340 Million Power Play: How the Unrivaled League Is Forcing a Revolution in Women’s Basketball
In the ever-evolving landscape of professional sports, moments of disruption are rare but transformative. For decades, the WNBA has stood as the undisputed pinnacle of women’s professional basketball in the United States. It has cultivated legends, built a dedicated fanbase, and provided a platform for the world’s greatest female athletes. Yet, a new force is rapidly emerging, not just as an alternative, but as a potential paradigm shift that challenges the very structure of player compensation and league ownership. This new player is the Unrivaled League, a 3-on-3 women’s basketball venture that has skyrocketed to a stunning $340 million valuation, creating shockwaves that are being felt directly in the midst of the WNBA’s most critical labor negotiations in years. This isn’t just about competition; it’s a fundamental questioning of value, equity, and the future path of the sport, spearheaded by some of the WNBA’s own biggest stars. The conversation is no longer about whether players deserve more—it’s about a new league proving it’s possible to give it to them right now.
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What is the Unrivaled League and Why Is It Gaining So Much Attention?
The Unrivaled League is the brainchild of WNBA superstars Breanna Stewart and Napheesa Collier, who envisioned a league built by players, for players. Launched as a 3-on-3 format, it offers a faster-paced, high-energy version of basketball that capitalizes on a format popularized on the Olympic stage. However, its innovative structure is what truly sets it apart. Unlike traditional leagues where players are employees, Unrivaled was founded on the principle of partnership. Every player in the league not only earns a salary but also receives equity, making them part-owners with a vested interest in the league’s success. This model of player equity is a game-changer in professional sports, transforming athletes from labor into stakeholders.
The league’s explosive growth and sudden prominence are a testament to a well-executed vision backed by incredible star power. Its inaugural season was a success, but its recent round of investments has propelled it into a new stratosphere, turning it from a niche experiment into a major industry player.
The Financial Backing Behind the $340 Million Valuation
A league’s potential is often measured by the confidence of its investors, and Unrivaled has attracted a who’s who of the sports and business worlds. The recent funding round, led by the prestigious Bessemer Venture Partners, saw its valuation leap tenfold to $340 million. This financial endorsement is significant, but the names involved add another layer of credibility and influence. Serena Williams’ Serena Ventures, Warner Bros. Discovery, and soccer icon Alex Morgan’s Trybe Ventures are among the new investors.
They join an already star-studded list of backers that includes NBA superstar Stephen Curry, tennis legends Billie Jean King and Coco Gauff, NBA MVP Giannis Antetokounmpo, and Olympic champion Michael Phelps. This coalition of elite athletes and savvy investors signals a widespread belief in Unrivaled’s model and its potential to generate substantial returns. Alex Bazzell, the league’s president, noted that they weren’t actively seeking more capital, which indicates a position of financial strength. The ability to attract major investment without desperate need underscores the powerful momentum the Unrivaled League has built in a remarkably short time.
A New Benchmark for Player Compensation
For years, the debate around WNBA player salaries has been a persistent and often contentious topic. While the league has grown, many feel that player compensation has not kept pace, especially when compared to their male counterparts in the NBA. The Unrivaled League has directly addressed this issue, not with promises, but with tangible, market-altering figures. In its first season, the average player salary was an impressive $222,222. This figure is significant because it is higher than the WNBA’s maximum supermax salary of $214,466 for 2024.
This stark comparison is perhaps best illustrated by the case of Paige Bueckers, the projected No. 1 pick in the 2025 WNBA Draft. Reports indicate that she will earn more in a single Unrivaled season than she would over the entirety of her four-year rookie contract in the WNBA. When you add the equity component on top of these high salaries, the financial proposition becomes incredibly compelling. Players aren’t just earning a paycheck; they are building wealth and ownership in a rapidly growing enterprise. Bazzell emphasized this, stating that the players “are largely majority shareholders” who will “reap the benefits of these growing valuations.”
The WNBA’s Crossroads: Stalled Labor Negotiations and Mounting Pressure
The timing of Unrivaled’s meteoric rise could not be more challenging for the WNBA. The league is currently locked in difficult collective bargaining agreement (CBA) negotiations with its players’ union. The current agreement is set to expire on October 31, and reports from both sides suggest they remain “far apart” on key issues. At the heart of the dispute are player demands for a larger share of league revenue and significant salary increases across the board. The players argue that with the WNBA’s record-setting viewership and a new $2.2 billion media rights deal on the horizon, the money is there to support a more equitable financial structure.
However, WNBA Commissioner Cathy Engelbert has maintained a cautious stance, emphasizing the need for the league to prioritize a “path to profitability.” This argument is becoming increasingly difficult to defend publicly when a brand-new women’s basketball league is not only projecting profitability in its second year but is also paying its players more and giving them ownership. Unrivaled’s success provides the WNBA players with powerful leverage. It serves as a real-world example that a different, more lucrative model is not just possible but is already happening. The pressure on the WNBA during these WNBA labor negotiations is now immense, as they are no longer the only viable domestic option for top-tier talent.
A Rejected Partnership and a Brewing Talent War
According to Bazzell, the dynamic between the two leagues could have been very different. He revealed that Unrivaled initially approached the WNBA with a partnership proposal that would have allowed WNBA owners to acquire a minority stake, creating a collaborative ecosystem similar to the one between the PGA Tour and the TGL. The WNBA, however, “chose not to do that.” That decision may prove to be a pivotal misstep. By declining a partnership, the WNBA inadvertently positioned Unrivaled as a direct competitor.
Now, that competition is heating up. Unrivaled has already signed 90% of its 2026 roster, and Bazzell has confirmed that player salaries will increase “across the board.” This aggressive recruitment signals their intent to secure the best talent available. For years, the biggest threat to the WNBA’s talent pool was lucrative overseas contracts that lured players away during the offseason. Now, a formidable and attractive competitor has emerged right at home, offering higher pay, ownership, and a shorter season that complements, rather than conflicts with, other playing commitments. The choice for players is becoming clearer and more compelling.
The Future of Women’s Basketball Hangs in the Balance
The emergence of the Unrivaled League represents more than just a new competitor; it signifies a potential revolution in the business of women’s sports. It has exposed the vulnerabilities in the traditional professional sports model and has empowered athletes to demand more—not just in salary, but in respect and partnership. The league co-founded by Breanna Stewart and Napheesa Collier is a powerful statement that players can create their own platforms and dictate their own terms. As the WNBA continues its CBA negotiations, it is no longer operating in a vacuum. Every decision will be weighed against the new standard set by Unrivaled. The pressure is on to adapt, innovate, and deliver a financial model that recognizes the true value of its athletes. If it fails to do so, the WNBA may find that the future of women’s basketball is being shaped not in its boardrooms, but in the player-owned courts of its new, ambitious rival. The power has shifted, and the game will never be the same.
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