Peerless, a three-on-three women’s professional basketball league, announced Wednesday that it has raised money that values the league at $650 million.
Peerless president Alex Bazzell said this Series C funding is cumulatively more than all of the league’s other funding combined, and he sees it helping to strengthen the league, which will enter its third season this winter. The estimate is an estimate made by the league.
The three-on-three league was founded by WNBA stars Breanna Stewart and Napheesa Collier (Bazzell’s wife) and gives players an equity stake in addition to their salaries. The players remain the largest group of shareholders after this latest round of investment, and the value of the player and equity pool has grown to nearly $200 million, according to the league.
Ten Pillar Sports Fund, backed by UC Investments, led the Series C raise, which was oversubscribed and exceeded the league’s initial goal of $100 million. Sports stars including Naismith Hall of Famer Carmelo Anthony, Washington Wizards guard Trae Young and UConn coach Geno Auriemma, and former American football stars Alex Morgan, Trybe Ventures, actor Ashton Kutcher and Bessemer Venture Partners have built on previous investments in the league. The eight-team league’s estimated valuation puts it ahead of every WNBA team except the Golden State Valkyries, according to Sportico’s 2026 WNBA Prediction ranking.
“Anyone who has watched Unrivaled knows that this game is as exciting as any other sport – and there is another essential ingredient that attracted us: Unrivaled athletes not only play in the league, they own a part of it,” UC Investment chief investment officer Jagdeep Singh Bach said in a statement. “We’re excited to help carry that momentum forward.”
The latest funding comes about four months before the league’s next season ends on January 8. Unrivaled is not adding teams this season or expanding the competition period, Bazzell said. Roster size will also remain the same in Year 3 with six players on each roster and six more in the league’s development pool. But Unrivaled is looking at expanding its roster of venues for Season 4, he said.
The league is in the midst of a six-year media rights deal with TNT. Beginning last season, the unparalleled schedule overlapped with major sporting events, including the Olympics and the College Football Playoff. For this season, Unrivaled has gone out of its way to minimize conflicts with major sporting events in its scheduling talks with TNT. The schedule is expected to be released this fall.
Bazzell’s focus on the expansion is about Unrivaled’s touring model and elevating the overall experience for fans and players.
The 2026 season will be Unrivaled’s last at Sephora Arena in Medley, Fla., outside of Miami. Bazzell declined to say where the league will go long-term, but said the plan is to build a “more innovative space” for athletes and fans.
Unlike last season, Unrivaled will begin its regular season and finish the postseason on the road. Bazzell said the number of stops on the tour will increase from two during the 2025 season to about eight in 2026, and it will take the league across the country. He declined to name the cities for the stops while the league negotiates the sites, but an announcement is expected in September. Last year, Unrivaled’s tours were limited to matches in Philadelphia and New York.
“We will always have a tour model,” Bazzell said. “We’re going to grow it a little bit more, but I think we want to find a balance that players don’t want to live without their suitcases for 10 weeks. But it’s a big part of growing the business that they benefit from as well.”
Prior to Season 2, more than 75 percent of the league’s players had signed multi-year contracts. Unrivaled has solidified approximately 95 percent of its roster for Season 3, including new stars like Olivia Miles, Gabby Williams and Marine Johannès, who have signed multi-year contracts. Among the stars expected this winter are Stewart, Collier, Kelsey Plum, Chelsea Gray, Paige Bueckers, Allisha Gray, Dominique Malonga, Jackie Young, Kahleah Copper, Marina Mabrey and Sonia Citron.
