Project B Lures Top Executives as Women's Basketball Player Equity Rises

Project B, a new global women's basketball league, has secured early backing from a roster of prominent corporate leaders and former athletes as it prepares for its inaugural season in international hubs like Tokyo and Valencia. The venture distinguishes itself by granting players a direct equity stake in the league rather than solely compensating them through salaries. “We’re honored to have such accomplished leaders across sport and business join Project B as early investors,” said Grady Burnett, Project B Chief Operating Officer and former Facebook and Google executive. “Their belief in our vision reflects a shared conviction that basketball is entering a new era of global growth, and we’re excited to build that future together.”

The investor base features heavyweights from the technology and finance sectors, including CapitalG Managing Partner Laela Sturdy, PagerDuty CEO Jenn Tejada, and former Gilead CFO Robin Washington. They are joined by Nestle COO Stephanie Hart, Uber Chief Audit and Risk Officer Brandy Thomas, and Cherryrock Capital founder Stacy Brown-Philpot. Former athletes on the board include tennis champion Sloane Stephens and WNBA legends Candace Parker, Cheryl Miller, and Lauren Jackson, alongside co-founder and Chief Basketball Officer Alana Beard.

This capital structure directly challenges the traditional ownership economics of professional sports, where the demographic generating the core value has historically been excluded from the cap table. According to McKinsey and Company’s 2025 Women in the Workplace report, Black women hold just 7% of C-suite roles, and only four WNBA teams currently list women as principal or co-owners. By centering Black women in leadership and giving players equity, Project B is attempting to align incentives between capital and labor in a way that major leagues have resisted.

Board member Merline Saintil framed the investment as a strategic alignment with the consumer base. “What I love about where we are having representation with Project B, it means you’re honoring the customer base,” she said. Saintil also highlighted the financial mechanics driving the venture: “I think ownership is where we are going to create generational wealth, and allow women to have a seat at the table, which is all the things that I’ve been passionate about from the very beginning.”

The equity model is already attracting top talent, including WNBA stars Azzi Fudd, Jonquel Jones, Jewell Loyd, and Nneka Ogwumike. For these athletes, the league functions as both a competitive platform and an incubator for business development. “I get to sit down with women like Alana Beard, Sloane Stephens, Merline Saintil, Robin Washington, Gaby Sulzberger, Laela Sturdy, Candace Parker, and so many others to talk about my brand, explore new business opportunities, ask questions, and learn from women who have built companies, transformed industries, and changed the game in so many ways,” Fudd said.

Stephens argued that this structural integration of players into the financial upside of the league will accelerate the broader sports economy. “Players who have invested in the sport are not only invested just in terms of money, but they’re invested in the sport itself as a whole, and that’s what’s pushing all sports forward faster,” she said. If Project B's model proves profitable, it could pressure established leagues to reconsider how they distribute equity and governance rights.