An upstart professional lacrosse league which is hoping to succeed where so many have failed has scored big with an investment from one of the owners of the Brooklyn Nets.
Following a Series A funding round, the Premier Lacrosse League now counts Alibaba Group Holding Ltd. billionaire Joe Tsai as a backer, though terms of the financing weren’t disclosed.
In addition to his stake in the PLL, Tsai is an owner of the San Diego Seals in the National Lacrosse League, the New York Liberty in the WNBA, and a 49 percent owner of the Nets.
Founded by lacrosse star Paul Rabil, the PLL also secured funding from Hildene Capital Management president Brett Jefferson (who played lacrosse at Syracuse University) and return investor The Raine Group, which led the league’s initial round in September.
“We are excited to build upon an investment group that is aligned with our vision of bringing the sport of lacrosse into the mainstream and delivering a world-class product for our fans,” Rabil said. “This latest capital infusion will also provide the PLL with additional resources to ensure that our infrastructure is strong and stable far into the future.”
The 2019 PLL season will begin on June 1st and at least three of the league’s games will be broadcast on NBC. Featuring six teams, the 14-week PLL season will conclude with a playoff and PLL championship game.
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