LeBron James’ close friend and business partner, Maverick Carter, has walked away from a huge $5 billion project that aimed to rival the NBA.
According to ESPN’s Brian Windhorst, Carter confirmed that he is no longer part of the plan known as Project B.
Maverick Carter Backs Out of NBA Rival League Plan
The group behind the project is reportedly now shifting its focus toward launching a new women’s basketball league to compete with the WNBA.
“Last week, Carter confirmed to ESPN he had left the venture, which calls itself Project B, and its representatives said in media interviews it is now focusing on starting a women’s basketball league to rival the WNBA,” Windhorst wrote.
Carter’s exit marks a major shift in what was supposed to be one of the most ambitious basketball ventures in history.
Back in July, rumors about the new league went viral after Miško Ražnatović, one of Europe’s top basketball agents, posted a photo with James and Carter on Instagram. The caption read, “The summer of 2025 is the perfect time to make big plans for the fall of 2026!”
That post made fans think something huge was coming, and it was, since Project B was expected to be an international basketball league with major backers.
Reports said investors included the Singaporean government, Saudi Arabia’s sovereign wealth fund, and a major casino company from Macau. The ambitious plan featured six men’s teams and six women’s teams traveling around the world and playing in eight host cities.
Players would even get equity, or ownership stakes, in the league. But there was reportedly a catch: anyone who joined would not be allowed to play in the NBA again.
That rule must have made things complicated, especially since the NBA remains one of the richest sports leagues in the United States, valued at more than $165 billion.
Now, instead of taking on the NBA, the group behind Project B is turning its attention to women’s basketball. With Carter stepping away, they’re reportedly aiming to build a new league that could compete directly with the WNBA.
Why is Carter Now Planning for WNBA’s Rival League?
Carter, CEO of SpringHill Company, could have been swayed by the growing interest in women’s basketball.
The women’s game is having a moment. Players like Caitlin Clark, Angel Reese, and Paige Bueckers have made the WNBA more popular than ever. The 2025 WNBA Finals attracted an average of 1.5 million viewers.
But behind the spotlight, there’s tension. Many WNBA players have voiced concerns about low pay and lack of benefits.
Star forward Napheesa Collier has even accused league commissioner Cathy Engelbert of poor leadership and not doing enough for players. The players’ union and the league are in the middle of tough collective bargaining agreement (CBA) talks, with an Oct. 31 deadline looming.
That’s why investors see an opportunity in the WNBA. A rival league that offers better salaries and equity could attract top talent from the WNBA.
One new league, Unrivaled, co-founded by WNBA superstars Collier and Breanna Stewart, has already proven it’s possible.
Its value recently rose to a whopping $340 million a year after its inception, following a new funding round led by Bessemer Venture Partners, with backing from Serena Williams’ venture fund and Warner Bros. Discovery.
