Project B: Revolutionizing Women's Basketball with Equity and Opportunity
Nneka Ogwumike, a former WNBA MVP, has recently signed a contract with Project B, a new professional women's basketball league set to launch in Europe and Asia in November 2026. She is the first player to join the league and will receive both a salary and equity stake in the league. Project B aims to offer higher salaries than the WNBA to its 66 players, who will be divided into six teams of 11 players each.
The financial details of the contracts have not been disclosed, but the potential for increased compensation is significant for women's professional basketball. The WNBA and its players union are currently in negotiations for a new collective bargaining agreement, with salary and revenue sharing being key points of contention. Ogwumike emphasized the importance of the equity stake offered by Project B, highlighting its rarity in women's sports.
Ogwumike, who also serves as the union president for the WNBA, hopes that the equity stake model will become standard in future league agreements. Project B plans to run its inaugural season until April 2027, without overlapping with the WNBA schedule. This opportunity would allow players like Ogwumike to play year-round, a practice she engaged in previously by playing overseas during the WNBA offseason.
Project B's format involves a traveling circuit similar to golf or tennis tournaments, with games streamed for viewers. The league aims to create a high-profile event in each city, leading up to a potential world champion. Notable WNBA players have reportedly signed on with Project B, and there are discussions about including a men's league as well. The league's founders, Geoff Prentice and Grady Burnett, come from the tech industry and emphasize the importance of equity for players' success.
Investors in Project B include tennis stars Novak Djokovic and Sloane Stephens, as well as former WNBA player Candace Parker. Parker expressed excitement about the league's vision of empowering athletes with equity and shaping the future of basketball on a global scale. Project B aims to revolutionize the basketball landscape by giving players a stake in the league's success and involving fans in the movement towards a more inclusive and equitable sports environment.