The Premier Lacrosse League (PLL) is planning to start selling its teams to individual owners or groups by 2028, according to league co-founder Paul Rabil. He announced this initiative during the CNBC Boardroom Game Plan: The Ownership Game Panel on July 25, 2023. The goal is to expand the league from its current eight teams to as many as 16, and to shift towards an independent ownership model, similar to established U.S. professional leagues.
Currently in its eighth season, the PLL is unique in that it operates under a single-entity ownership structure. However, as interest in owning sports teams has surged, particularly due to rising valuations in major leagues such as the NFL, NBA, MLB, and NHL, the PLL is eager to follow a path similar to other emerging sports leagues. This includes League One Volleyball and the Basketball Africa League, both of which are transitioning to independent ownership.
Recently, the PLL successfully raised $100 million in a Series E funding round aimed at supporting its growth. Rabil believes that the upcoming 2028 Los Angeles Summer Olympics will provide significant exposure for both the league and the sport of lacrosse, which will reappear in the Olympics after nearly 120 years. The excitement around lacrosse is already evident, with initial ticket sales for Olympic events selling out within 48 hours.
Rabil also indicated a willingness to consider discussions with larger investment firms or corporations if they express interest in acquiring the league, emphasizing the potential appeal of lacrosse as an investment opportunity.
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