Unrivaled basketball league hits $650 million valuation after sold-out tour

Unrivaled, a 3-on-3 women’s basketball league co-founded by Breanna Stewart and Napheesa Collier, announced a fresh financing round that pushes its worth to $650 million, almost twice the $340 million valuation recorded last September. New backers include self-made billionaire Jenny Just and Ten Pillars Sports Fund, while existing supporters such as Geno Auriemma, Carmelo Anthony, Alex Morgan’s Trybe Ventures and NBA guard Trae Young also contributed.

Launched in January 2025 to provide WNBA players with a domestic offseason option, the league is developing a Miami campus and recently sold out venues in Miami, Philadelphia and Brooklyn during a touring schedule. Stewart highlighted the parallel surge in fan demand and investor confidence, noting the sold-out crowds as proof of the league’s momentum. Unrivaled’s compensation model grants players equity, now valued at roughly $200 million after a 550 percent increase, making athletes the biggest shareholder group, according to CEO Alex Bazzell. The league will face fresh competition from the upcoming Project B, which has already signed several top WNBA stars.