Report: WWE And Kevin Durant Invest In Premier Lacrosse League
WWE has invested in a new league.
According to Bloomberg, WWE and Kevin Durant’s venture fund have invested in the Premier Lacrosse League.
The Chernin Group, an existing investor in the league, led the round. Founders Paul and Mike Rabil said the new infusion valued the company at twice the previous round in June 2021, but specific dollar figures were not provided.
Joe Tsai, Arctos Sports Partners and Brett Jefferson have previously invested in the PLL. The league, currently in its fourth season, signed a media rights deal with ESPN earlier this year.
“The marketplace saw a proof of concept backed up by performance,” said Mike Rabil, the PLL CEO.
Paul Rabil said the league is looking it can expand and said the new capital will go toward those efforts. Part of that push involves an off-season tournament, which will immediately precede next year’s spring college lacrosse season. The tournament will follow the Olympic Sixes format, as the brothers and others push for lacrosse to be included in the Los Angeles Summer Olympics in 2028.
“Our purpose — in addition to growing the company — is getting out in front of the opportunity to grow the sport internationally,” Paul Rabil said.
WWE and Vince McMahon were famously involved in creating and reviving the XFL football league.
