Unrivaled, the new 3×3 professional women’s basketball league set to launch in the US in January, has received new investment from the Avenue Sports Fund.
The firm joins the league’s investor group that already includes several former US athletes such as Alex Morgan, Megan Rapinoe, Carmelo Anthony, and Steve Nash, as well as businessman Gary Vaynerchuck and media executives Ann Sarnoff, John Skipper and David Levy.
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As a player-led league, Unrivaled athletes will also have equity in the competition, which was co-founded by WNBA stars Napheesa Collier and Breanna Stewart.
The Avenue Sports Fund, the sport investment arm of the Avenue Capital group, is led by Marc Lasry as chairman, CEO and co-founder.
Lasry has strong basketball ties having previously served as a co-owner of the NBA’s Milwaukee Bucks for almost a decade before selling his 25% stake in the franchise last year for $3.5 billion.
On the Unrivaled investment, Lasry said: “We have a deep understanding of basketball globally and believe Unrivaled is well positioned to benefit from several drivers, including the growing popularity of women's basketball at multiple levels.
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By GlobalData“We look forward to partnering with Unrivaled as it becomes an established player in women's sports.”
Unrivaled president Alex Bazzell added: “Marc Lasry and Avenue Sports' investment is instantly elevating Unrivaled to the next level and we're incredibly grateful for their commitment to what we're building.
“This investment doesn't just demonstrate a desire to support the league, it demonstrates an understanding of how Unrivaled is uniquely positioned in the women's sports landscape to be a game-changer for investors, partners, and players alike.”
Unrivaled will officially tip off its inaugural season on January 17.
Last month, (October) the new league signed a multi-year media rights partnership with TNT Sports in the US. As part of that deal, TNT Sports also agreed to invest an undisclosed amount in Unrivaled.
In July, meanwhile, Unrivaled brought in financial services brand Ally as its founding brand partner.
Ally Financial is the league's founding partner, and State Farm also recently joined the league's growing partnership portfolio.
Unrivaled recently hired Micky Lawler, the former Women’s Tennis Association president, as its first commissioner.
