Culture
Fight for the Champions League's future threatens an age of uncertainty in Europe
A love story. Florentino Perez called it a love story. Speaking to reporters on his way out of Wembley Stadium after Saturday’s Champions League final, the Real Madrid president sounded like a man in thrall to the mystique, the allure and the romance of a relationship that has spanned seven decades and so many special times.
“It’s a magnificent night, because this competition is the one we like the most,” Perez said after Madrid, 2-0 winners over Borussia Dortmund, were crowned European champions for the 15th time. “It was created by Santiago Bernabeu (the club’s president from 1943 to 1978) along with L’Equipe newspaper, and it made us important in the world. Some (clubs) leave and others come, but this competition is very much ours.”
There is a beautiful story there: the all-conquering Madrid team that won the first five European Cups from 1956-60, inspired by Paco Gento, Alfredo Di Stefano and Ferenc Puskas; a sixth title in 1966, and then an unthinkable 32-year wait before three more around the turn of the century, won by a team illuminated by the homegrown Raul Gonzalez and embellished by the arrivals of Luis Figo and Zinedine Zidane before the Perez-driven galacticos project lost its way; their re-emergence over the past decade with a side initially built around Cristiano Ronaldo and other A-list talents, but now extensively rebuilt around the young talent of Vinicius Junior, Rodrigo, Jude Bellingham and, coming soon, a bona fide galactico in Kylian Mbappe.
No club have contributed more to the game’s growth in the European Cup era. Equally, no club have grown more with the game. It is, on one level, a beautiful relationship, particularly when they are led by coaches such as Carlo Ancelotti and Zidane, whose personal history with the competition dates back to their illustrious playing careers.
But it is a strange kind of love story when Perez appears intent on killing the Champions League as we know it.
He has the European football landscape he dreamed of — a vast and enormously lucrative competition, so elitist that it now attracts talk of fairytales if the second-biggest club in Germany make it to the final — but it is still not enough. Nothing will ever be enough.
One way or another, European football is approaching a tipping point.
It has felt that way for several years now, as if the unprecedented financial advantages enjoyed by the biggest, richest, most powerful clubs in the biggest, richest, most powerful leagues just aren’t enough anymore.
Perez wants the European Cup to be replaced by a Super League. Why? “We are doing this to save football at this critical moment,” he told Spanish television show El Chiringuito around the time of the failed Super League launch in the spring of 2021. “If we continue with the Champions League, there is less and less interest, and then it’s over. The new format which starts in 2024 is absurd. In 2024, we are all dead.”
And now here we are in 2024. Perez is still pushing the Super League project, emboldened and encouraged by the outcome of the latest court case in Spain, and continuing to wage war on UEFA, the game’s governing body on this continent, which he has accused of running a “monopoly” on European football.
UEFA, for its part, has responded to the constant demands for more matches by introducing a new Champions League format from next season: the so-called “Swiss model”, where 36 teams will play eight games each, not in a group format but in a notional 36-team “league” from which 24 of them progress to the knockout phase. This is what Perez has described as “absurd”. And he might well be right.
It sounds… bloated, convoluted, unwieldy, all the things that European competition should not be. It looks like a forlorn, misguided attempt to go with the flow when what the game really needed was for UEFA to do the impossible by stemming and reversing the tide.
It is designed to placate the demands of the biggest, richest, most powerful clubs.
Some of us would say UEFA has acceded far too much over the past two decades in particular, creating a financial model that has created a chronic competitive imbalance between leagues and within leagues. Perez and others have already concluded next season’s reforms don’t go anything like far enough.
Sitting at Wembley on Saturday evening, soaking up the atmosphere created by their supporters, it felt like something of a throwback to see Dortmund in the final again. If it felt that way the previous time they got there, in 2013, when Jurgen Klopp characterised them as a “workers’ club” against a commercial juggernaut in fellow German side Bayern Munich, it certainly felt that way when they played Real Madrid in this season’s showpiece.
It was similar when Inter Milan reached the final against Manchester City last season. Inter have won the European Cup as many times (three) as Manchester United and indeed they have won it more recently, but they too seem to have been left behind in the modern era. The latter stages of the Champions League felt like their natural habitat in the 2000s. By 2023, reaching the semi-finals, never mind the final, seemed extraordinary.
And that is Dortmund and Inter — never mind other former giants such as Benfica, Porto and Ajax (to say nothing of Celtic, Red Star Belgrade and the rest). The 21st-century financial landscape has put these clubs far beyond most of their domestic rivals but unable to compete financially with even mid-ranking Premier League clubs, let alone the Champions League elite.
GO DEEPER
What comes next for Borussia Dortmund?
The European game is at such a strange point in its history.
The football itself is frequently enthralling, highly technical and played at an astonishing speed, but the structure of the sport’s European model feels increasingly broken: by greed, by entitlement, by the biggest clubs demanding an ever greater share of revenue and ever more protection against underperformance. Attempts to preserve wild-card places for underperforming big clubs have so far been resisted, but that is clearly the direction of travel.
UEFA’s solution, as always, is to give the elite more of what they want — but not enough to please most of them. The solution proposed by Perez and others is for the most powerful clubs to wrestle power from UEFA and to be allowed to do as they please.
“To fix a problem, you have to first recognise that you have a problem,” Perez said in 2021, before making clear his belief that European football’s issue was not dubious ownership models, nor the spread of multi-club networks, a bulging fixture calendar or a chronic financial and competitive imbalance across the continent. The only problem he was interested in was the one that could be solved by “top-level games year-round, with the best players competing”.
But Perez doesn’t necessarily mean “top-level games” between the best teams of the day. He wants the most marketable matches.
If he feels short-changed by a Champions League campaign in which Madrid faced Napoli, Braga, Union Berlin, RB Leipzig, City, Bayern and Dortmund, you suspect he would be happier to have played Juventus and Liverpool (who didn’t qualify), Manchester United (who were knocked out in the group stage) and Barcelona (beaten in the quarter-finals).
Provided his team still ended up winning, of course.
Two great contradictions arise from the past decade of European competition.
The first, much discussed elsewhere and not greatly relevant to this article, is that this period of Madrid domination, unprecedented in the Champions League era, has felt strange as far as the quality of their performances is concerned.
It is undoubtedly strange that they have come to dominate an era while rarely dominating their matches against top-class opponents. It must leave Pep Guardiola wondering how on earth, beyond the small margins of knockout football, his City side have just one European Cup to show for their sustained excellence over the past seven seasons.
The second contradiction — perhaps linked to the first, perhaps not — is that, in an era when the biggest clubs have enjoyed access to revenue streams that were previously beyond their wildest dreams, several of them have lost their way due to serious mismanagement.
Barcelona, Madrid’s fiercest rivals, have flirted with financial calamity and have reached the Champions League semi-finals just once in the past eight seasons; Manchester United have reached just two quarter-finals in the past 13 seasons under the Glazer family’s miserable, directionless ownership; Juventus reached the final in 2015 and 2017 while in the midst of winning nine consecutive Serie A titles, but they have fallen away from the top tier of European football as ownership and management issues escalated.
It is almost as if some of these ownership regimes became so fixated on driving up revenue streams and reimagining European football’s future that they lost sight of their own club’s present.
That is not an accusation that could be levelled at the Perez regime.
Obsessed as he might be by his Super League dream and his power struggle with UEFA, he has overseen Madrid’s evolution into a club that plays the transfer market shrewdly, always looking for the next big talents in world football (Vinicius Jr, Rodrigo, Bellingham, incoming Brazilian teenager Endrick) and always respecting experience and knowledge while recognising when it is right to let a fading A-list talent grow old at another club’s expense.
Barcelona and Manchester United, from a broadly similar financial position, have spent enormous sums of money in a wildly erratic manner and allowed dysfunction to take hold. By contrast, Madrid have established a clear vision, made good appointments and built a winning environment.
They have also without question ridden their luck at times in the Champions League. That needs to be emphasised: both the luck they have had in some of their winning campaigns (not least the last two) and the assurance Ancelotti and his players have shown in being able to ride it. In some of the individual success stories — Ancelotti, Nacho, Dani Carvajal, Toni Kroos, Vinicius Jr, Bellingham — there is so much to like.
The most uplifting stories of the past few seasons in European football, though, have come away from the Champions League’s spotlight, with Europa League final successes for Villarreal, Eintracht Frankfurt, Sevilla and Atalanta, as well as the success of the initially derided third-tier Conference League, which Roma, West Ham United and Olympiacos have won in its first three years.
The joy in those celebrations, particularly after Olympiacos beat Fiorentina in the Conference League final last week, was truly something to behold.
It has shown there is still life and ambition among those clubs who have been conditioned to accept their place in the game’s 21st-century order and be grateful for whatever crumbs might fall from the top table.
Former Juventus chairman Andrea Agnelli once infamously asked whether Atalanta truly merited a place in the Champions League while on their way to a third consecutive third-placed finish in Serie A. When it comes to outperforming expectations and resources over recent seasons, few clubs in Europe have been more deserving.
Surely that is the lesson for European football to draw from the past decade: that, in 2024, there still has to be such a thing as upward mobility, that a club like Olympiacos can win a European trophy, that clubs like Atalanta, Bologna and Aston Villa can still reach the Champions League, that a club like Bayer Leverkusen can break Bayern’s monopoly of the Bundesliga. In an era when hope has been crushed — when Bayern have been able to sleepwalk their way to some of their 11 consecutive Bundesliga titles, often sacking coaches as they go — Leverkusen’s success under Xabi Alonso has been particularly inspiring.
But such love stories rarely seem to endure these days. It seems inevitable that, before long, Leverkusen will fall prey to those clubs higher up the food chain, seeing their best players whisked away, just as Klopp’s Dortmund team did, just like the Monaco team of 2016-17 or the Ajax of 2018-19 did. Maybe their manager, too.
And at the very top of that food chain are Madrid, the sport’s apex predator, now champions of Europe for a 15th time, somehow re-establishing their dominance in an era when they felt threatened like never before.
Leaving the stadium after Saturday’s final, it was hard to escape the feeling that European football, having allowed its problems to pile up over a long period of time, is entering a period of uncertainty and seismic change.
This convoluted “Swiss format” will be the most inescapable change in next season’s Champions League, but, whether it has the desired effect or not, you can imagine the Super League mob clinging to its success or failure as irrefutable evidence of the need for radical reform.
The game needs proper leadership. It needs someone to stand up and fight for tradition, for jeopardy, for the romance that runs through the history of European competition.
Hearing his heartening words on his way out of Wembley, you might have imagined that person would be the 77-year-old president of Real Madrid, the man who talks fondly and reverently about the European Cup and his club’s enormous contribution to it.
But no, Florentino Perez has a different perspective on that relationship these days. As love stories go, it’s increasingly complicated.
GO DEEPER
Real Madrid’s Champions League party: Speeches, cigars, Carvajal’s dad on horseback
(Top photo: Visionhaus/Getty Images)
Culture
‘Everybody listens’: Nick Saban caps a significant rookie season on ESPN
The Worldwide Leader in Employing Former Coaches and Players has made many prominent hires over the years, but Nick Saban slots into a class of his own.
Multiple eras of ESPN management never hid their desire to bring Saban into their orbit, and I remember reporting an item in August 2014 on Saban’s wowing ESPN staffers during a long conversation at The Langham Hotel in Pasadena, Calif., the day before the national championship game. The NFL is ESPN’s most important property, but in many ways, college sports make ESPN go.
Saban, represented forever by CAA, the talent agency that essentially has an office in ESPN’s headquarters in Bristol, Conn., clearly was intrigued by broadcasting, and ESPN finally landed its man last February. Think of Tommy Lee Jones chasing Harrison Ford in “The Fugitive,” except this story ends with Ford getting a multimillion-dollar deal to talk college football.
Saban was in the middle of the “College GameDay” set Monday night in Atlanta as part of a two-hour pregame show. He also pulled halftime duties. The iconic show now centers around Pat McAfee, who brings energy and unpredictability, and Saban, who has been charged with bringing gravitas.
Saban has delivered that in his opening year. Monday night in Atlanta, he offered a nice piece of copy early in the pregame:
“The most important thing in games like this is who can keep the main thing the main thing,” Saban said. “There’s a lot more disruptions when you are playing in a national championship game. You travel at a different time. You practice in a different place. You have more media obligations. Everybody has won three big games. Both teams won a big game last week.
“How do they handle the whole idea of, ‘Am I relieved that we got to this point or am I going to go get the gold?’ People remember the ‘Miracle On Ice.’ We beat Russia, and that was like what everybody remembers. We had to go beat Finland the next week (Editor’s note: It was actually two days later) to win the gold medal. Somebody has to step up tonight and win the gold medal.”
What GameDay lacked for a couple of years was someone right off the field, whether a player or coach, and that’s where Saban has been significant. Broadcasters do not impact viewership outside of a rare few (maybe Howard Cosell and Charles Barkley), and I’m not sure Saban falls in this category, but the data is the data: “College GameDay” averaged 2.2 million viewers during the regular season, its most-watched season ever and a 6 percent increase from 2023.
Jim Gaiero, who has been the lead producer of “College GameDay” for the past nine years, said he was intimidated by Saban when the former Alabama coach first joined the show.
“Just because he’s Nick Saban,” Gaiero said. “I didn’t really know him that well. I thought he would be that same coach who’s yelling at Lane Kiffin and demanding perfection in everything we do. I was definitely intimidated. Now he busts my chops more than any human being. I am his punching bag, and it’s fun. He’s very funny and a ball-buster.
“He was always good on TV, and when the camera’s on, he’s on. So it was about learning things like how do you introduce a point that leads to an XO tape, or where you direct yourself during a conversation.
“I remember early in the season I was talking to him, and I said, ‘If you are going to go to Dez (Desmond Howard) next, make sure you’re looking at Dez.’ He’s like, ‘Well, why didn’t you tell me this before?!’ I was like, ‘Well, I didn’t want to give you everything at once.’ We’ve added stuff each week, and he’s grown so much since the beginning of the season.
“The thing is, whenever he makes a comment, everybody listens. He doesn’t have throwaway comments. There are some analysts who tend to repeat what their co-analysts just said. It’s almost like an echo. But when he speaks, it’s a unique perspective that nobody else has ever had.”
It is very intentional to place Saban in the middle of the set, as opposed to an end, because Gaiero said it is easier for the other panelists to interact with him. (You don’t want newcomers on the edge of a set because it makes it tougher for them to get acclimated to the conversation.) Gaiero said GameDay benefited from Saban’s already knowing all its on-air members before becoming one.
“The best moments for our chemistry are the Friday meetings because Nick will tell a few stories, and everyone is on the edge of their seats listening,” Gaiero said. “It can be as silly as a recruiting story or the time he played at this stadium. He tells the story, and we’re all laughing, and he’s laughing and smiling. He’s like, ‘I don’t know if you guys want that on the show,’ and we’re all like, ‘My God, that’s definitely in the show!’”
Gaiero said Saban’s best moments this year were his “nothing” speech from October and when he discussed changing his coaching style from transactional to transformative. (They submitted the latter for the Sports Emmy nomination process.)
The next evolution for Saban, according to Gaiero, is to refine his preparation process. The producer wants him to talk to as many coaches as he can during the offseason and, of course, watch tape.
The program would be wise in Year 2 to dial back on the genuflecting of Saban. His resume speaks for itself — no need for the on-air cast to go overboard in deifying him. Saban also has been at his best when fewer people are on set. That was the case in the 7-7:30 p.m. ET hour Monday, when he was prominently featured alongside McAfee, Howard and host Rece Davis.
“He now knows what he needs to do on television,” Gaiero said. “Early on in the season, we might mention 30 games on a production call, and he’d want to know which games I wanted him to focus on. I told him early on to think of everything like a funnel. We’re going to start off with a lot of games and teams, and then as the weeks go by, certain teams are going to fall by the wayside because they’re not going to matter anymore. His preparation can be simplified going into next year.
“I think he definitely sees himself as a broadcaster now, and he’s seeking the feedback to be a better broadcaster. This isn’t just a one-year or two-year thing for him.”
(Photo: Butch Dill / Getty Images)
Culture
The Most Anticipated Book Adaptations of 2025: Movies and TV Shows
New Year, new reading goals. It’s that season again when anything feels possible: Maybe this is the year you’ll finally tackle that dust-laden copy of “Infinite Jest” sitting on your shelf, or earn your “I finished ‘The Power Broker’” mug. And for binge watchers, it’s also the perfect chance to study up by diving into the books that are being adapted into movies and TV shows in 2025. Here are some of the thrillers, romances, sci-fi page turners and detective novels coming soon to a screen near you.
This is a running list. Check back for more updates as the year goes on.
By Matthew Quirk
Peter Sutherland is an F.B.I. agent who works at the White House, monitoring an emergency phone line that seldom rings. One night, he receives a distressing call from a woman named Rose Larkin, who reports that two people have just been murdered. What follows is a whirlwind of action and suspense as the two become entangled in a conspiracy involving high-level corruption and espionage.
Season 2 of “The Night Agent” premieres on Netflix on Jan. 23.
By Arthur Conan Doyle
There have been no shortage of screen versions of Sherlock Holmes, Doyle’s beloved British detective: According to the Guinness Book of World Records, the persnickety genius is the second-most portrayed literary character in the history of film. In “Watson,” the latest adaptation, however, the focus is on Dr. John Watson, Holmes’s loyal confidant and the frequent narrator of his escapades. Though the series is not inspired by a specific book or story, “A Study in Scarlet” is a delectable primer on the two men’s longstanding friendship.
“Watson” premieres on CBS and Paramount+ on Jan. 26.
By Dav Pilkey
In this spinoff of Pilkey’s “Captain Underpants” universe, Dog Man — a part-dog, part-human police officer — and his eccentric friends battle villains and solve crimes. Blending humor, action and heart, the graphic novel series teaches young readers about friendship and bravery — all brought to life through colorful illustrations and quirky anthropomorphic characters. It has already been adapted into an Off Broadway musical. Now it heads to the big screen.
“Dog Man” premieres in theaters on Jan. 31.
By Helen Fielding
In this third installment of Fielding’s series about an endearingly hapless British diarist, Bridget Jones is adjusting to widowed life after the death of her husband, Mark Darcy. Raising her two young children as a single mother now in her 50s, she juggles her career and navigates romantic mishaps with characteristic wit and self-deprecating humor. The book, our critic wrote, “is not only sharp and humorous, despite its heroine’s aged circumstances, but also snappily written, observationally astute and at times genuinely moving.”
“Bridget Jones: Mad About the Boy” premieres on Peacock on Feb. 13.
By Michael Bond
Paddington was still in Peru when he first appeared on the big screen in 2014. Now, over a decade later, he returns to his home country with his adopted Brown family in the third installment of this fan-favorite film series, inspired by Bond’s beloved books. Dozens of titles, including novels, picture books and short story collections, have been published since the clumsy brown bear made his print debut in 1958, but “A Bear Called Paddington” remains a perfect introduction to the marmalade enthusiast.
“Paddington in Peru” premieres in theaters on Feb. 14.
By Giuseppe di Lampedusa
In this 1958 novel, now being given the mini-series treatment, Prince Don Fabrizio Corbera grapples with the decline of his aristocratic family’s status in 1860s Sicily, as Giuseppe Garibaldi leads the Risorgimento campaign to overthrow the monarchy and unite Italy as one nation-state. Lampedusa was himself the last in a line of Sicilian princes, and he drew heavily on his own family’s story to craft this tale about the rise of a new bourgeois class and Prince Fabrizio’s struggles to find his place in a rapidly changing world.
“The Leopard” premieres on Netflix on March 5.
By Edward Ashton
Mickey, an “expendable” worker on a remote ice planet, knows he will most likely die on the job. But no matter: Cloning exists in this space colony and, after one version of Mickey dies, a new one will regenerate. After Mickey7 goes missing on a space mission, Mickey8 is immediately created. The only problem? Mickey7 is still alive. (And in case eight regenerations weren’t enough, the director Bong Joon Ho takes it 10 steps further in his film adaptation, “Mickey17,” starring Robert Pattinson as Mickey.)
“Mickey17” premieres in theaters on March 7.
By Dennis Tafoya
Ray and his best friend, Manny, met in a juvenile detention facility. Nearly two decades later, they’ve found a way to make a living by posing as D.E.A. agents and raiding drug houses in Philadelphia. It’s a simple and lucrative grift — until a poorly chosen mark puts them in the cross hairs of a dangerous kingpin. High-speed car chases, bloody violence and many flying bullets ensue.
“Dope Thief” premieres on Apple TV+ on March 14.
By Hilary Mantel
“The Mirror and Light” is the final book in Mantel’s “Wolf Hall” trilogy, which chronicles Thomas Cromwell’s rise to power in Henry VIII’s capricious court. It’s a sinewy, imaginative work of historical fiction that delights in the psyche of a man whose political maneuvering and ambitions lead him to the pinnacle of power — and to his own undoing. The actor Mark Rylance, who won a BAFTA for his portrayal of Cromwell in the 2015 mini series that covered the trilogy’s first two novels, returns for this final chapter.
“Wolf Hall: The Mirror and the Light” premieres on PBS on March 23.
Culture
Unrivaled’s an instant hit, but can the new women’s basketball 3×3 league sustain?
MEDLEY, Fla. — Outside a custom-built arena on the outskirts of Miami, a line of fans waited to sit on a throne composed largely of basketballs. They wrote personal answers on a sign asking, “What does Unrivaled mean to you?” Empowerment. Leadership. Community. Future. Not even some evening rain could extinguish the buzz that had been building since 2023, when fans learned about the creation of this new 3×3 women’s basketball league.
As fans filed into the 850-seat Wayfair Arena on Friday night for the opening night of Unrivaled, they sported a tapestry of WNBA gear. But many wanted new apparel, too, crowding into the gift shop an hour before tipoff. The least expensive single ticket cost north of $300, but fans flocked to support their favorite WNBA stars and witness a new chapter of women’s basketball history.
At tip-off before the first game of a doubleheader, co-founders Napheesa Collier and Breanna Stewart posed at center court for a photo to capture the moment before they competed against each other.
The nationally televised contests aired back to back on TNT, highlights replayed on SportsCenter, and a clip of Skylar Diggins-Smith sinking the league’s first game-ending shot amassed millions of views across various social media platforms.
In its opening weekend of games, Unrivaled has undoubtedly commanded attention. But to carve out a permanent space in women’s basketball, it needs to accomplish what many other start-up sports leagues have historically failed to do: sustain.
Unrivaled executives say the league’s long-term success has been set up by its stable foundation — signing renowned WNBA stars, attracting big-brand sponsors, capitalizing on lucrative investments and inking a multi-year television deal.
“I think we put ourselves in a great position to be successful right away, but it’s a marathon,” said league president Alex Bazzell, a basketball skills trainer and Collier’s husband. “We’re not running out there from Day 1 trying to get millions of viewers out of the gate. It would be tremendous, but we’re gonna be here for a little while.”
Phee with the steal and Sky got it done 😮💨🔥 pic.twitter.com/CtpkLUnznR
— Unrivaled Basketball (@Unrivaledwbb) January 18, 2025
Before Unrivaled filled its rosters with 22 WNBA All-Stars, it started with just two — Stewart and Collier. Like many of their WNBA peers, the star forwards share a history of spending months overseas during the offseason and competing professionally abroad to supplement their WNBA incomes and sharpen their games.
The routine sparked brainstorming between them. Bazzell first pitched Unrivaled to Stewart in late 2022. “(We were) trying to make women’s basketball continue to be relevant in the offseason from a professional standpoint,” she said.
From the beginning, both players were on constant phone and Zoom calls. They met with investors, relaying their experiences from their years in countries such as Turkey, France, China and Russia. They explained why they believe top women’s basketball players should be marketed in the U.S. during the WNBA offseason and how Unrivaled could offer comparable domestic competition and salaries on par with high-paying overseas clubs.
They wanted to convince stakeholders that Unrivaled wouldn’t be just a novelty but that the league would have staying power. “(Stewart and Collier were) instrumental because when brands come in they act like founders,” Bazzell said.
The two players, alongside other Unrivaled executives, sold their idea to major brands and to deep-pocketed investors, including Gary Vaynerchuk, U.S. soccer star Alex Morgan and NBA legend Carmelo Anthony.
Bazzell said the league already has “far exceeded” the first-year revenue expectations it pitched to initial investors. “We’re focused on building a great business, but for the time being we don’t have to worry about money,” he said.
That is partially because of its media rights deal — a six-year $100 million agreement with Warner Bros. Discovery, according to a source with knowledge of the agreement — and a robust sponsorship roster.
The day before tipoff last week, Stewart paused for a moment and pointed out a banner displaying some of Unrivaled’s partners: Ally, Under Armour, Samsung Galaxy, Sephora. “People are walking that walk and also talking that talk,” she said.
The question is: Will they continue?
Unrivaled’s launch comes at a time of unprecedented attention on women’s basketball. Record-breaking viewership, attendance and media deals became commonplace for women’s college basketball and the WNBA over the last two years.
“You couldn’t have landed this at a better time,” said David Levy, an Unrivaled investor who is the former head of Turner Sports and current co-CEO of Horizon Sports and Entertainment.
Bazzell said Unrivaled operates with a “startup mentality.” Executives might create rules one day and unload boxes the next. The league, of course, is still unproven. But unlike many other short-lived start-up leagues, key to Unrivaled’s early success is that its most important members are verifiable stars.
“A lot of times leagues go away because they don’t have the best of the best playing in them,” Levy said. “Unrivaled didn’t start with names nobody knew or people that didn’t make the WNBA. This is the best of the best.”
Early on, Unrivaled executives recognized attracting top talent would be critical to creating visibility on TV, with partners and on social media. With nearly two-dozen WNBA All-Stars — Stewart, Collier, Brittney Griner, Sabrina Ionescu, Angel Reese among them — and seven No. 1 WNBA Draft picks, name recognition isn’t an issue.
To keep so many stars in the U.S., they knew the importance of paying salaries competitive with top overseas clubs. Unrivaled said it is the highest-paying American women’s sports league in history, with salaries averaging north of $200,000.
Its 36 players are more than just talent in Unrivaled, too. A substantial portion of the league’s equity — around 15 percent — is allocated to players. “We’re proud to be here also as investors,” Diggins-Smith said. “All of us being investors, (we) really care about this product and (it) really doing well… You want it to sustain.”
GO DEEPER
How Unrivaled became a welcome alternative for WNBA players’ overseas offseasons
Three-time WNBA MVP A’ja Wilson and rookie sensation Caitlin Clark are among those not playing in Unrivaled. The league made overtures to rookie Clark, but she elected to sit out the inaugural season, as she recovers from a nonstop last 12 months. Clark’s WNBA salary — around $75,000 — is supplemented by her countless endorsement deals, and she told Time she felt training privately in her own space would be beneficial. Clark, though, didn’t rule out playing in the league in the future. If she does, Levy said, interest in the league will “catapult,” surely propelling its long-term outlook. But he stressed that Unrivaled isn’t built around one person.
Unrivaled already has a high-profile media rights partnership, which is critical to its financial foundation and will be important in its ability to grow.
Initially, Unrivaled executives wondered if the league would need to broker a revenue-sharing deal with a potential TV or streaming partner before getting a licensing deal once the season launched. But they quickly found that multiple parties were interested in a licensing agreement with at least four companies in the final bidding, Levy said.
Bazzell relied on Levy and John Skipper, the former president of ESPN and another early Unrivaled investor, to tap into their professional networks and help find a partner.
Things crystallized this summer when Bazzell met with TNT Sports CEO Luis Silberwasser while in France for the Olympics. Having reach outside of traditional broadcast windows was important to Unrivaled, Bazzell said, as founders recognized the importance — both financially and culturally — of having broad social media reach. Warner Bros. Discovery’s portfolio including Bleacher Report, House of Highlights and HighlightHer (recently renamed B/R W) made it especially appealing.
WBD was ideal, executives said, because of everything it had under one roof: widespread TV distribution (all games will air on TNT or TruTV, and stream on Max), ancillary production, and social media strongholds, a key component of Unrivaled’s business strategy. Warner Bros. also financially invested in Unrivaled, as a sign of its deep commitment to the league’s success.
Getting WBD and Unrivaled founding partner, Ally, on board were critical in the avalanche of partnership deals that followed. (Ally has pledged a 50/50 media spend to support men’s and women’s sports equally.)
Under Armour senior lead for global sports marketing, Tamzin Barroilhet, first met with Bazzell in the summer of 2023. A former college and overseas pro player, Barroilhet said she was “hooked” on the concept and Unrivaled’s deal with WBD helped convince the apparel brand to sign on as the official outfitter. Unrivaled is Under Armour’s highest-profile women’s basketball partnership, and a number of other brands also struck deals in women’s basketball for the first time. Sephora’s agreement with the league is the beauty company’s first partnership with any sports league.
Unrivaled’s scarcity was also intriguing to prospective investors. The league runs only 10 weeks. Its $8 million salary pool is one of its two largest categorical allocation of funds. As a single-site operation, it has a lower operational cost than many other start-up leagues, which Bazzell said minimizes its burn rate.
“(When you) keep the product at a premium level and ultra-competitive, you have some opportunities to pique interest,” he said.
The league announced in December it had raised an additional $28 million (on top of the $7 million in its seed round) from investors, including Milwaukee Bucks star Giannis Antetokounmpo, tennis star Coco Gauff, swimmer Michael Phelps, and South Carolina women’s basketball coach Dawn Staley. A number of its initial investors, including Anthony, Morgan and UConn women’s basketball coach Geno Auriemma, committed additional capital.
“We have new people trying to rush in and now we’re getting to a point where you have to be selective,” Bazzell said.
How Unrivaled engages and grows its audience is paramount to its future.
League officials stress TV ratings will be just one aspect of that answer. “It’s part of a puzzle,” Levy said. “How many people are following (on social media)? What are they doing? How many people are sharing? How much is the fan base interacting with it? How much is merchandise going up? There are going to be so many different metrics that I think are going to play into this.”
Part of their build involves recruiting the next generation. Aliyah Boston, the Indiana Fever center and 2023 No. 1 pick, said college players she’s talked to aim to play in the WNBA and Unrivaled. LSU star Flau’jae Johnson has an NIL deal with Unrivaled, and UConn’s Paige Bueckers, who is the presumed No. 1 pick in this April’s WNBA Draft, has an NIL deal and equity in the league. Bueckers plans to play in Unrivaled when she turns pro.
USC’s JuJu Watkins won’t enter the WNBA until 2027, but when she enters the pro ranks, Unrivaled will have a spot for her. She was among the December investors and is optimistic about the league’s future and sustainability.
When those players set foot in Unrivaled, the league will almost assuredly be different. This season, all 10 weeks of action take place at the Florida facility, but a tour model for competition is planned for next year.
GO DEEPER
Can Unrivaled’s 3×3 style benefit WNBA players?
The locations are yet to be determined but Unrivaled is targeting non-WNBA cities and college towns. Bazzell said it wouldn’t visit more than four cities and the league will still have a home base. The operational cost, Bazzell said, would be similar as it’s likely only four teams would travel to a given stop. Important to maintaining a premier player experience, the league would use charter airfare to transport its players.
“We want to go to different markets to help grow the game and bring a touch point to hopefully a lot of young girls around the country that are looking up to these players and haven’t been able to see them play in person,” Bazzell said.
Taking the league on the road will bring logistic challenges, but league executives believe it will help grow Unrivaled’s business and open it to even more fan opportunities. Barroilhet, the Under Armour executive, foresees potential youth clinics and camps in conjunction with Unrivaled’s tour. Brands could produce activations at different venues, furthering engagement and reach.
Ensuring the WNBA’s top players participate will be critical to Unrivaled’s sustainability, and perhaps some are less interested in any travel necessary for touring. WNBA salaries drastically increasing in the next CBA — the league is negotiating a new agreement with the WNBPA — could also diminish part of a player’s financial lure to the new league. Plus, while TV ratings aren’t fully indicative of overall fan interest, they still remain a datapoint that will impact the league’s viability, especially when media rights conversations begin for a second time.
Yet for now, the stars seem delighted to be in the new venture. Throughout Friday and Saturday’s action, Unrivaled athletes from other teams sat around the arena and watched their peers, enjoying the moment. Fans approached players like Jackie Young, Rhyne Howard and Natasha Cloud for selfies. Onlookers cheered not only for athletes playing, but for those wandering the aisles. “It’s a very intimate setting,” Jewell Loyd said.
Maintaining that connection will build fan loyalty. But for television audiences, the game — the appeal of watching the best players in the world perform — will have to remain at the forefront.
“At the end of the day, the product needs to be great for fans to continue to want to watch it,” Bazzell said. “You can capture people’s attention, but how do you keep people’s attention? It’s done through the most competitive product possible, which is really what we’re adamant on, day in and day out.”
(Top photo of Kahleah Copper: Carmen Mandato / Getty Images)
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