Good morning! Tulsi Gabbard confirmed as director of national intelligence, Macquarie Group is leaving the Net-Zero Banking Alliance, and Unrivaled tries out startup-style basketball.
– Startup season. For the past several weeks, some of the best women’s basketball players in the world have been grounded in Miami, with a private chef and an on-site esthetician. That’s the standard set by Unrivaled, a new three-on-three women’s basketball league that is running during the WNBA off-season.
Star WNBA players Napheesa Collier and Breanna Stewart cofounded the league, which is led by Collier’s husband Alex Bazzell, a WNBA and NBA trainer. The league raised $35 million in funding to get off the ground, with lead investor the Berman family of the credit-card business CardWorks (who have put in a bid for a WNBA franchise in Charlotte). That’s more than the league needed to raise, Bazzell says. Around 40% of Unrivaled’s revenue this season is coming from sponsorships, with more revenue than the league expected coming from other sources; its biggest sponsorship is with Samsung Galaxy (the WNBA and NBA are sponsored by AT&T). Its games have aired on TNT thanks to a multiyear deal; the first matchup in January drew an average 312,000 viewers, a number that’s close to what WNBA games used to get on lower-tier networks before the league’s recent surge. Unrivaled itself has 20 full-time staffers, with closer to 60 to 70 people working during the season.
Unrivaled is positioned as an alternative to players’ traditional off-season plans—earning sizable paychecks playing basketball outside the U.S. The ability to remain stateside (and compete in one city, rather than even travel domestically) is appealing to players who were accustomed to leaving behind their friends and family—and brand partners—for months at a time. Along with Collier and Stewart, Unrivaled players include Angel Reese, Brittney Griner, and Sabrina Ionescu (but no Caitlin Clark).
Right now, the WNBA and its players’ union are negotiating their next contract—with player compensation expected to rise for the 2026 season. Whether star players feel the need to compete during the off-season after WNBA salaries improve remains to be seen. Inaugural Unrivaled players were given equity in the league that only vests after four seasons—”just like a normal startup,” Bazzell says.
While the WNBA has been in transformation mode, Unrivaled has the opportunity to build something from scratch. In some ways, that’s easier—no union negotiations and no baggage. “It allows a lot more flexibility, and it allows us to be a little bit more aggressive and innovative,” Bazzell says. The Unrivaled season is running from January to March, and this week players are competing in a one-on-one tournament.
But Unrivaled benefits from the path the WNBA has carved. Fans are tuning into Unrivaled games to watch their favorite players, who they know from the WNBA. “That was always the model—we get the most popular, best players in the world, and they’re going to probably bring their fans with them,” Bazzell says. While Unrivaled has teams that compete against each other, those teams so far don’t have city affiliation—or owners, although selling ownership stakes is on Unrivaled’s agenda. Some fans are turning out to watch games in Miami, but most of the buzz is on social media.
As Collier told me last fall about Unrivaled: “We’re really trying to revolutionize the game a little bit.”
Emma Hinchliffe
emma.hinchliffe@fortune.com
The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world. Today’s edition was curated by Nina Ajemian. Subscribe here.
ALSO IN THE HEADLINES
- Arts overhaul. Deborah Rutter is out as the president of the Kennedy Center as President Trump installs himself as chairman of the arts institution and pledges to eliminate “woke” programming. Shonda Rhimes announced her resignation from the center’s board in protest. CNN
- Controversial confirmation. Tulsi Gabbard was confirmed by the Senate as Donald Trump's director of national intelligence. The former congresswoman was voted in 52-48, with Mitch McConnell the only Republican to vote against her. McConnell called Gabbard's confirmation an “unnecessary risk,” pointing to her past sympathy toward Russia and China. Washington Post
- Banks backing out. Macquarie Group, an Australian financial services firm led by CEO Shemara Wikramanayake, is leaving the global climate coalition Net-Zero Banking Alliance. Macquarie is the latest bank to leave after President Donald Trump pulled the U.S. from the Paris Agreement and withdrew pledged funding for the UN Green Climate Fund. Reuters
- Still doing DEI. Consulting firm McKinsey & Co. will continue prioritizing diversity, it said, as other top firms and large companies pull their DEI programming. Julie Sweet’s Accenture, for example, is “sunsetting” its DEI goals and career development programs. Bloomberg
- New to the club. Actor and producer Issa Rae has joined MLS expansion club San Diego FC’s ownership team as a club partner. She joined through a partnership with African investment firm Pave Investments. ESPN
MOVERS AND SHAKERS
Data Culture, a data-focused consultancy, appointed Brittany Bafandeh as CEO. She was previously head of data at Narrator.
Carve Designs, a sustainable apparel brand for women, appointed Megan Porteous as chief revenue officer. She was previously the company’s VP of e-commerce.
Prudential Financial named Vicki Walia chief people officer. She is currently head of HR business partners for the company’s U.S. insurance and retirement businesses and PGIM.
Empower Brands, a commercial and residential brands franchisor, named Felicia Reeves CMO. Most recently, Reeves served as SVP of growth marketing at TurnPoint Services.
Athletes Unlimited, which owns professional women’s softball, volleyball, and basketball leagues, named Vanessa Taveras chief partnership officer and Cheri Kempf chief broadcast officer. Most recently, Taveras was VP, strategic partnerships for IMG Academy. Kempf was previously Athletes Unlimited’s SVP, broadcasting.
Sonifi, a technology provider for hotels, appointed Karen O'Neill as SVP of hospitality sales. She was recently CCO and a senior partner at Growth Advisors International Network.
Compounding pharmacies network Revelation Pharma named Nancy Fingerhut VP of quality assurance and regulatory affairs. Previously, she was COO of Lee Silsby Compounding Pharmacy.
ON MY RADAR
She survived Harvey Weinstein. Can she survive the Palo Alto school board? San Francisco Standard
The purgatory of being a ‘fence-sitter’ Elle
What is Hims actually selling? The Atlantic
PARTING WORDS
“Confidence comes from knowing that all success doesn’t come from me alone.”
— Xerox CEO Ursula Burns on recognizing the people who helped you get where you are
