• Loading stock data...
Tuesday, October 28, 2025
Want a chance to win $250 and free FOS gear? Take our quick reader survey. Take the survey here
exclusive
Leagues

New International Basketball League Plans Launch, Without Maverick Carter

Novak Djokovic, Steve Young, Candace Parker, and major tech investors are in. LeBron James’s longtime business partner is out.

Maverick Carter, LeBron James
Gary A. Vasquez-Imagn Images

Maverick Carter is no longer involved with the planned international basketball league that aims to disrupt the sport, multiple sources told Front Office Sports.

“Project B,” as it has been called behind the scenes for nearly two years, still plans to launch next fall with 5-on-5 men’s and women’s basketball leagues. Led by Skype cofounder Geoff Prentice and former Facebook executive Grady Burnett, the investor group also includes tennis stars Novak Djokovic and Sloane Stephens; former WNBA stars Candace Parker, Alana Beard, and Lauren Jackson; and ex-NFL quarterback Steve Young.

The group would not yet disclose the official name for the planned league.

Carter, the longtime business partner of LeBron James, was advising the group before. Over the summer, Carter was spotted on a boat in France with James and Miško Ražnatović, the European agent for Nikola Jokić; multiple sources told FOS that the meeting was about the project. Ražnatović declined to comment Tuesday on whether he is involved. Burnett, when asked about Ražnatović, said, “Miško is a good friend of ours. I was just in Serbia.”

A spokesperson for Carter confirmed he no longer has any role in the organization, formal or informal.

“This group came to Maverick for consultation, which he gave, and he subsequently stepped away months ago,” the spokesperson told FOS. “He is no longer working with them or any other basketball league in Europe.”

James, who was not part of the group when Carter was involved, has long been linked to a potential NBA expansion franchise in Las Vegas or elsewhere. NBA rules prohibit team owners from having any stakes in other men’s professional basketball leagues or teams.

Despite Carter’s exit, Project B is still on track, according to those still involved.

Beard, a four-time WNBA All-Star who won a championship with the Los Angeles Sparks in 2016, is a cofounder and chief basketball officer for the league.

Shortly after retiring from the WNBA in 2020, Beard joined venture capital firm SVB Capital as a senior associate. She has also been involved in an unsuccessful WNBA franchise bid to bring an expansion team to Oakland.

“I’ve always had my mind set on ownership,” she told FOS.

The venture plans to begin play next fall, with seasons expected to run through April. That would compete directly with the NBA calendar, but possibly not the WNBA, which plays in the summer. When asked about the league onstage last month at the FOS Tuned In summit in New York, NBA commissioner Adam Silver said, “To the extent they’re looking to do something competitive, I’ve stayed away. Obviously that’s their right, if they choose to form a league. I know firsthand it’s not easy running a league. But competition is good, it keeps everyone on their toes.”

Project B plans to host tournaments in Asia, Europe, and Latin America. Like Unrivaled—the upstart 3-on-3 women’s basketball league based in the U.S.—it plans to give players equity, although specifics were not disclosed.

“We’re paying multiples higher than is available right now in the world of women’s sports,” Burnett told FOS. “We are paying the highest salaries and equity packages in women’s team sports, and this will be some of the best players in the world. We want this to be incredible basketball.”

The group was seeking $5 billion in funding, Bloomberg reported in January. It declined to share how much funding it has actually raised.

Project B has not yet announced who will play in the league, but a spokesperson for the venture says they have “secured commitments from some of the game’s most respected athletes,” including at least one current WNBA player the league will not yet name.

“This is not a gimmick,” Beard told FOS. “We’re playing five-on-five, we’re playing elite basketball. We want the best of the best playing in our league. That’s a full stop.”

In addition to Beard, Prentice, Burnett, Parker, Djokovic, and Young, Project B says it has backing from investment firms Quiet Capital, Sequence Equity, and Mangrove Capital. Sequence Equity cofounder Marcus Stroud declined to disclose the size of their investment but called it “our biggest investment to date.”

Burnett, who played tennis at Michigan with Prentice, said Project B is starting in basketball but aims to duplicate the model in other sports. Burnett, Beard, and others involved in Project B all emphasized the importance of the athletes having equity in the league.

“The players are our partners, they’re one of our largest stakeholders,” Beard said. “They are creating value, and getting paid for that value.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Napheesa Collier

WNBA, Players Remain Far Apart With CBA Deadline Days Away 

A union lawyer says a deal will not be reached by Friday.

Shohei Ohtani’s Historic World Series Game 3 Sets Up High-Stakes Game 4

Ohtani will start Game 4 on the mound after another epic performance Monday.
Brian Kelly

CFB Firings Tracker: LSU Owes Brian Kelly $53 Million

The sum owed Kelly slightly tops James Franklin’s at Penn State. 
Oct 26, 2025; San Antonio, Texas, USA; San Antonio Spurs forward Victor Wembanyama (1) celebrates a three-point shot in the second half against the Brooklyn Nets at Frost Bank Center.

NBA Betting Scandals Overshadow Wembanyama’s Superstar Leap

Wembanyama is following the path of Shohei Ohtani in MLB.

Featured Today

September 21, 2025; Santa Clara, California, USA; NFL commissioner Roger Goodell before the game between the San Francisco 49ers and the Arizona Cardinals at Levi's Stadium

NFL Fall Meeting: 7 Big Topics Among Team Owners 

Media, facilities, and labor highlight some of the key areas of concern.
Ohio State Buckeyes running back Isaiah West (32) runs the ball in the second half at Camp Randall Stadium on Saturday, Oct. 18, 2025 in Madison, Wisconsin
October 25, 2025

NIL Has Birthed a Third-Party Cottage Industry—and It’s a Mess

There’s no limit to how much players can make from NIL deals.
Christie's
October 21, 2025

Lou Gehrig’s $4M Jersey and the Exploding Sports Memorabilia Market

An ultra-rare sports collection is about to hit the auction block.
@chef__tezz/Instagram
October 19, 2025

Inside the NFL’s Private Chef Network

Private chefs are the unsung architects of player performance.
Oct 24, 2025; Fort Lauderdale, Florida, USA; Inter Miami CF forward Lionel Messi (10) looks on against Nashville SC during the first half at Chase Stadium.

Lionel Messi: MLS Can’t Grow Without More Spending Power

The Inter Miami star recently signed a contract extension through 2028.
Oct 26, 2025; Los Angeles, California, USA; The 2025 World Series logo on the field at Dodger Stadium.
October 27, 2025

Dodger Stadium Games Could Push MLB Payouts to Record Highs

The Dodgers’ big ballpark and ticket prices help fuel postseason player pay.
Alexis Ohanian
October 28, 2025

Alexis Ohanian: Angel City Ownership Setup Was a ‘Terrible Idea’

He admits that the NWSL club’s governance was a disaster.
Sponsored

Why Alexis Ohanian Is Betting Big on Women’s Sports

Alexis Ohanian reflects on his evolution from Reddit cofounder to one of today’s most dynamic sports investors.
Oct 24, 2025; Toronto, Ontario, CAN; Toronto Blue Jays center fielder Daulton Varsho (5) celebrates after hitting a two run home run against the Los Angeles Dodgers in the fourth inning during game one of the 2025 MLB World Series at Rogers Centre.
October 27, 2025

World Series Games Set Ratings Records on Canada’s Sportsnet

Canada continues to watch MLB broadcasts at historic levels.
Capitals
October 27, 2025

Capitals Fire Assistant Coach After Domestic Abuse Investigation

Assault and abuse cases are defining the start of the NHL season.
October 26, 2025

Lamar Jackson’s Practice Status Flip Sparks NFL Investigation

Baltimore could be disciplined for not properly disclosing Lamar Jackson’s status.
Rob Manfred
October 25, 2025

Canada Could Get MLB Expansion Team, Manfred Says

The league has noted fast-rising fan interest north of the border.