The Premier Lacrosse League owns all eight of its teams right now. Soon, it will sell them to outside investors.
The 2028 Los Angeles Summer Games will include lacrosse as a medal sport for the first time in about 120 years. "The first allotment of tickets sold out in 48 hours for lacrosse, so there's good hype building," said Paul Rabil, co-founder of the league.
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As the value of franchises in top-tier sports leagues such as the NFL, NBA, MLB, and NHL continues to climb, some investors are looking for more affordable entry points in leagues like MLS, the NWSL, and the WNBA. In addition, the league secured $100 million through a Series E funding round earlier this week, aimed at expanding the league.
Paul Rabil, a lacrosse star, founded the Premier Lacrosse League in 2018, and it quickly became the premier professional league for the sport. Its single-ownership model allowed the league to control costs and build a consistent brand, but with the Olympics on the horizon and investor interest rising, the league is pivoting to a traditional franchise structure.
Lacrosse originally appeared as a medal sport in the 1904 St. Louis Olympics and again in 1908 in London, with Canada winning gold both times. Its return to the program for the 2028 Los Angeles Games marks the first time in 120 years, sparking renewed interest. The PLL's shift to a franchise ownership model aligns with this momentum, as the league prepares to capitalize on a broader audience.
The PLL currently operates eight teams, but with a new franchise model, each team could fetch significant valuation as investor interest grows. The single-ownership structure initially helped the league control costs and unify branding, but now the shift to individual ownership is seen as a natural next step to unlock value.
Founded by lacrosse star Paul Rabil in 2018, the PLL quickly established itself as the top professional lacrosse league in North America, featuring the best players and a unique tour-based schedule. The league's single-ownership structure allowed for streamlined operations and consistent branding across all eight teams, but the upcoming Olympic return and growing investor appetite have prompted a strategic shift to individual franchise ownership.
But the league is also open to a bigger deal. Rabil said, "If a large private equity fund or a strategic company such as TKO Group, which owns World Wrestling Entertainment, Ultimate Fighting Championship and Professional Bull Riders, would like to acquire the league, we would absolutely have those discussions."
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