WWE has invested in the Premiere Lacrosse League.
As cited by Bloomberg, WWE and Kevin Durant’s venture fund find themselves amongst the new investors in the Premier Lacrosse League.
An existing investor in the league, The Chernin Group, reportedly led the round. The founders of the Cherin Group, Paul and Mike Rabil revealed that the new infusion valued the company at twice the amount compared to June 2021. No specific dollar figures were given however.
Billionaire Joe Tsai, Arctos Sports Partners and Brett Jefferson previously invested in the Premiere Lacrosse League. “The marketplace saw a proof of concept backed up by performance,” Mike Rabil stated. Moreover, the PLL signed a media rights deal with ESPN earlier this years. Currently, they are in the middle of their fourth season of action.
Although flourishing with success, Paul Rabil noted his examination on how the league can expand even further. The new capital from investors will aid in those efforts as well. In addition to growing the league financially, Rabil expressed hope to expand Lacrosse internationally.
“Our purpose — in addition to growing the company — is getting out in front of the opportunity to grow the sport internationally,” Paul Rabil said.
An off-season tournament, will reportedly drive that effort. The tournament will precede next year’s spring college lacrosse season. Additionally, the tournament will abide by the Olympic Sixes format. The Rabil brothers and others will continue push for lacrosse to be included in the Los Angeles Summer Olympics in 2028.
Vince McMahon and World Wrestling Entertainment famously created their own XFL football league in the past. However, it seems that lacrosse has garnered their interest and investment today.
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