Unrivaled closes $28m funding round

Zoom in: The round was led by the Berman family and included participation from basketball heavyweights like Giannis Antetokounmpo, Dawn Staley and USC star JuJu Watkins.

• Fenway Sports partner and Boston Globe Media CEO Linda Henry, Michael Phelps, and former Milwaukee Bucks minority owner Marc Lasry also joined.
• Warner Bros. Discovery, which struck a multiyear media rights deal that included an investment, is also part of the round.
• Unrivaled's total funding now stands at $35 million.

The big picture: Unrivaled, founded by WNBA stars Breanna Stewart and Napheesa Collier, is one of multiple new pro sports leagues that begin play next year.

• The league, which will use a 3-on-3 format, was formed to give WNBA players a domestic league to play in during their offseason, while seeking to bridge the pay gap between them and NBA counterparts.
• Unrivaled will feature 30 players across six teams and already has commitments from Stewart, Collier, Chelsea Gray, Arike Ogunbowale and Angel Reese to play in the inaugural season.
• All players will get equity in the league.

What's next: The league begins its first season on Jan. 17.