Project B was founded in 2023 by Grady Burnett and Geoff Prentice. with Alana Beard as Chief Basketball Officer.
Candace Parker, Steve Young, Novak Djokovic, and Sloane Stephens are included as investors and advisors.
The Saudi Wealth Fund is reported to be one of the operating partners.
The league hopes to appeal to an international audience.

League format

Project B starts with six women's team league playing the traditional five on five format, from an eleven-player roster.
The season starts with seven two-week long tournaments throughout Europe, Asia and Latin America, with the first season starting in November 2026 through to April 2027.