WWE has invested in the Premier Lacrosse League.
The American professional field lacrosse organization recently raised a fresh round of funding that includes new investors such as WWE and the Thirty Five Ventures fund owned by NBA veteran Kevin Durant, according to Bloomberg.
It was noted that the league is looking at holding a new tournament and bigger media ambitions with the new funding. Existing investor The Chernin Group led the round of funding. Founders Paul and Mike Rabil noted that the new infusion valued the company at twice the previous round in June 2021, but they declined to provide specific dollar figures.
There is no word yet on how much WWE has invested, but that will likely be revealed to WWE investors in the near future.
WWE and Durant’s venture fund now join a roster of well-known names from sports, media and entertainment that have backed the PLL since its inception in 2018. The PLL acquired Major League Lacrosse in 2020 to create the sole professional outdoor lacrosse league in the United States.
PLL signed a media rights deal with ESPN earlier this year, and they are currently in the midst of their fourth season of play.
Paul Rabil, who retired from playing after last season to become the PLL President, is looking at how the league can use the new funding from WWE and Durant to expand, and part of that push involves an off-season tournament, which will immediately precede next year’s spring college lacrosse season.
The Rabil Brothers noted that bringing on WWE, a company that also uses a tour-based model, will help raise the entertainment profile of the league.
WWE has not publicly commented on the funding, but we will keep you updated.
Stay tuned to WrestlingHeadlines.com for more.