Maverick Carter, the longtime business partner of LeBron James, is no longer associated with the highly anticipated international basketball venture known as Project B. A spokesperson confirmed Carter had offered consultation early on but stepped away months ago. James himself has no role in the project, which avoids potential conflicts with NBA ownership rules.
What Is Project B?
Project B is an ambitious new basketball league that plans to debut next fall with both men’s and women’s five-on-five competition. Unlike experimental formats like three-on-three, organizers emphasize this will be elite, professional basketball designed to compete on a global scale.
- Founders & Leadership: Skype co-founder Geoff Prentice and former Facebook executive Grady Burnett
- Chief Basketball Officer: Alana Beard, four-time WNBA All-Star and 2016 champion
- Investor Athletes: Novak Djokovic, Sloane Stephens, Candace Parker, Lauren Jackson, Steve Young
The venture also has backing from Quiet Capital, Sequence Equity, and Mangrove Capital.
Funding and Player Incentives
According to reports, Project B has sought as much as $5 billion in funding to build the league. While actual fundraising totals have not been disclosed, Sequence Equity called its stake in Project B the firm’s “biggest investment to date.”
What sets the league apart is its equity model. Organizers say athletes will not only earn some of the highest salaries in women’s team sports, but also hold ownership stakes. This approach mirrors the equity-sharing models beginning to appear in new U.S. leagues like Unrivaled.
Global Competition and Schedule
Project B is expected to:
- Launch in fall 2026, with seasons running through April
- Stage tournaments in Asia, Europe, and Latin America
- Operate on the same calendar as the NBA, creating direct competition
- Avoid overlapping with the WNBA, which runs in the summer
NBA commissioner Adam Silver recently acknowledged the effort, saying competition can be healthy but also cautioning that “it’s not easy running a league.”
The Role of Alana Beard
Alana Beard, who retired from the WNBA in 2020, has emerged as one of Project B’s most influential voices. Already active in venture capital, Beard said she has always had her mind set on ownership:
“The players are our partners, they’re one of our largest stakeholders. They are creating value, and getting paid for that value.”
What Comes Next
Project B has not yet released its official name or disclosed which athletes will participate, but it claims to have secured commitments from “some of the game’s most respected players,” including at least one current WNBA star.
Despite Carter’s exit, organizers stress the league is on track and poised to disrupt professional basketball by combining global competition with athlete ownership.