The Premier Lacrosse League has raised more than $200 million since it first disrupted—then fully redefined—professional lacrosse in America. Co-founder Paul Rabil says its latest round, a $100 million Series E, may be the last.
“With where we’re at now, the intention is to stabilize the business with this capital and find ways that we can accelerate growth,” Rabil told Sportico in an interview. “We share in the sentiment that we shouldn’t raise any more capital unless there is a clear, designated growth opportunity—and at this stage that’s usually through some form of M&A.”
The PLL on Tuesday announced the $100 million round, led by Ares funds and billionaire Joe Tsai, one of the sport’s most prominent business backers. Media partner ESPN is contributing money too, as are a number of other prominent names—actors Glen Powell and Rob Mac, Carolyn Tisch Blodgett’s Next 3, and David Blitzer, via his Bolt Ventures family office.
Rabil, who declined to provide financial specifics, said the PLL’s valuation has grown steadily since he and his brother Michael raised a roughly $3 million seed round in early 2018. Their most recent financing, the Series D, was announced in 2022. Since then, the organizers of the 2028 Summer Olympics in Los Angeles announced they would add a smaller, six-on-six version of lacrosse to the official program.
