Unrivaled League Now Worth $340 Million, Putting Even More Pressure On The WNBA
Backed by Serena Williams and other sports legends, the 3-on-3 league is growing fast.
The WNBA may have a labor war on its hands, and the competition is making things worse.
Unrivaled, the 3-on-3 women’s basketball league co-founded by Breanna Stewart and Napheesa Collier, just announced a new $340 million valuation ahead of its second season. That number is up tenfold from last year, thanks to a major new round of investments led by Bessemer Venture Partners and including Serena Williams’ Serena Ventures, Warner Bros. Discovery and Alex Morgan’s Trybe Ventures
"We weren’t searching for more capital," Unrivaled president Alex Bazzell told Front Office Sports. "We built a long enough runway to operate without it. But it was the right partner in Bessemer… when you can take the money when you don’t need it, it’s much better."
Other new investors include NBA players Trae Young and the Wagner brothers (Moritz and Franz), with previous investors including Stephen Curry, Billie Jean King, Coco Gauff, Giannis Antetokounmpo and Michael Phelps.
That star-studded investor table and explosive growth might be starting to make the WNBA nervous — especially as its own players are demanding higher salaries and better revenue sharing in ongoing CBA negotiations.
Unrivaled’s average player salary was $222,222 in its inaugural season — higher than the WNBA’s max salary of $214,466 — and every player received equity in the league. Paige Bueckers, the No. 1 overall pick in the 2025 WNBA Draft, will make more money in her first Unrivaled season than over her entire four-year rookie contract with the Dallas Wings.
"They are largely majority shareholders," Bazzell told ESPN. "They are going to reap the benefits of these growing valuations… our whole brand ethos is coming into effect and proving itself in a short amount of time."
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Unrivaled generated roughly $30 million in revenue in year one and is projected to turn a profit in year two. The league’s media deal with TNT, plus major sponsors like Ally, Sephora and Under Armour, make that projection realistic.
The league says it’s doubling revenue projections from season one and adding 15,000 square feet to its Miami facility, including new practice courts and seating. It also plans to announce a second city with a much larger arena.
(Photo by Rich Storry/Getty Image)
And all of this comes as the WNBA’s own labor negotiations appear to be going nowhere.
As OutKick previously reported, the current CBA expires Oct. 31, and both sides have said negotiations remain "far apart." Players are demanding a larger piece of the revenue pie and increased salaries across the board. But WNBA Commissioner Cathy Engelbert has insisted that the league must prioritize a "path to profitability" — even as it’s coming off a record-setting year and has a $2.2 billion media rights deal kicking in next season.
Unrivaled’s success only makes the WNBA’s position harder to defend.
Bazzell said Unrivaled initially offered a partnership to the WNBA that would’ve allowed league owners to hold a minority stake — similar to the PGA and TGL model. But "they chose not to do that," he said.
Now, it’s the players who are choosing.
Unrivaled has already signed 90% of its 2026 roster and will add six more players as part of a developmental pool. Player salaries will go up "across the board," according to Bazzell.
If the WNBA doesn’t get serious in CBA negotiations — and soon — it may find that the biggest threat to the league isn’t overseas play anymore. It’s right here at home.