The Premier Lacrosse League Secures Additional Round of Financing
June 2, 2021 - Premier Lacrosse League (PLL) News Release
LOS ANGELES, CA. - The Premier Lacrosse League (PLL) powered by Ticketmaster announced that it has closed an additional round of funding. The financing is led by Arctos Sports Partners, the Kraft Group, and return investor, Joe Tsai Sports. The new investors will join investors Raine Group, Brett Jefferson Holdings, Creative Artists Agency (CAA), Bolt Ventures, Chernin Group, Harris Blitzer Sports Entertainment, and Blum Capital.
With increased viewership and sponsorship sales year-over-year, the PLL completed its second season in 2020, operating a month-long, quarantined tournament in Herriman, UT with zero positive COVID-19 cases. After its second season, the league completed a merger with Major League Lacrosse, with subsequent season operations and activities to formally exist under the PLL. Sports Business Journal recognized the league as the 2020 Sports Breakthrough of the Year.
"Our mission is to trailblaze the future of professional sports. By partnering with industry innovators and leaders such as Arctos, the Krafts, and Joe Tsai we are continuing to put the company in a strategic position to scale and grow the sport," said Co-Founder and CEO Michael Rabil. "We are planning to use the funds to further resource our media team and enhance our live-game broadcast experience, build our owned and operated technology, grow our partnerships team, and invest in youth lacrosse by unlocking opportunities for future players."
Arctos Sports Partners is a private investment platform dedicated to the professional sports industry and sports franchise owners.
"Over the last several years, Mike and Paul Rabil and the entire PLL management team have been at the forefront of innovation and operational efficacy across all major professional sports leagues in North America," said Doc O'Connor, Co-Founder and Managing Partner at Arctos Sports Partners. "We at Arctos are proud to be their partners and look forward to helping them grow and dominate through the next phase of their evolution."
Robert Kraft, Founder, Chairman and CEO of the Kraft Group, is an American entrepreneur, investor and philanthropist whose portfolio of businesses and brands range across many verticals, including paper and packaging, sports and entertainment, real estate, venture investing and one of the most valuable sports franchises in the world, the New England Patriots, as well as Major League Soccer's New England Revolution.
"We are proud to invest in the Premier Lacrosse League," said Kraft. "We believe in the entrepreneurial leadership that Michael and Paul Rabil bring to the professional advancement of lacrosse. They have created a way to showcase the talents of the greatest players in the game to audiences around the country. We look forward to kicking off another season here in New England at Gillette Stadium."
The PLL, co-founded by Michael and Paul Rabil, the sport's most high-profile player and personality, has revolutionized professional lacrosse by providing players with equity and healthcare. In April 2021, the league announced an exclusive streaming partnership with Peacock as part of its robust 3-year media rights deal with NBC Sports Group and NBC Universal.
PLL founding investor Joe Tsai said, "PLL's momentum in fan engagement and business accomplishments over the last 18 months suggests a promising future for the sport. Our viewership and revenues year-over-year have been impressive." Tsai continued, "The tremendous progress has enabled us to form one unified field lacrosse league with the merger of Major League Lacrosse and attract premier partners like Arctos Sports and the Kraft Group. We remain committed to the work and innovation that lies ahead and are extremely excited about the 2021 season."
The 2021 PLL Season will be broadcasted on the NBC family of networks, featuring 21 games on NBC (4) and NBCSN (17), the most-ever professional lacrosse games on television in a season, and 23 games exclusive on Peacock.
The PLL opens its third season on June 4th at Gillette Stadium in Foxboro, MA. For more information on the 2021 schedule, visit www.premierlacrosseleague.com/schedule.
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