Latest news with #PLL
Axios
25-06-2025
- Business
- Axios
ESPN takes minority stake in Premier Lacrosse League
ESPN has renewed its media rights deal with Premier Lacrosse League, and also made a minority investment in the league. Why it matters: This marks a shift in ESPN's strategy as it looks to invest in growth areas outside of traditional television. A strategic investment in PLL gives ESPN more incentive to work with the the league on effective distribution. Between the lines: While it's not the first time ESPN has taken a stake in a small league, it is the first time it's made one public. That suggests ESPN is trying to signal to the market that it's looking to get more creative with its dealmaking in the streaming era. Zoom in: The new five-year media distribution agreement begins in 2026 and includes rights to all of the PLL's regular season, all-star, playoff, and championship games. It also includes rights to games for the Maybelline Women's Lacrosse League, currently in its debut season, plus future PLL and WLL Drafts. Zoom out: Momentum is building around lacrosse. The PLL has seen record viewership across Disney and ESPN platforms over the past few years, and the sport returns to the Olympic Games in 2028. "This is an incredible moment for lacrosse ... and we felt this was an incredible for us," says Matt Kenny, ESPN's VP of programming and acquisitions.
Forbes
25-06-2025
- Business
- Forbes
ESPN Secures Minority Equity Stake In Premier Lacrosse League
Chaos' Jarrod Neumann (88) defends against Whipsnakes' Matt Rambo (9) during a Premier Lacrosse ... More League game, Saturday, June 5, 2021 in Foxborough. The Whipsnakes won 13-7. (AP Photo/Vera Nieuwenhuis) ESPN has secured a minority equity stake in the Premier Lacrosse League, joining a long lineup of notable sports companies that have invested in the PLL since the Rabil brothers co-founded the upstart league in 2018. ESPN also extended its media rights agreement with the PLL through the 2030 season. ESPN is currently in the final year of a four-year deal to air all of the PLL's games. It is the first time ESPN has publicly disclosed an equity investment in a sports league. The Walt Disney Co., ESPN's parent company, once owned franchises in the National Hockey League (Anaheim Ducks) and Major League Baseball (Los Angeles Angels), but it sold those teams more than 20 years ago. 'What this deal shows is our willingness to be incredibly creative when it comes to the types of deals that we're doing with our partners,' said Matt Kenny, an ESPN vice president of programming and acquisitions. 'I think it just reinforces our trust and confidence in the PLL, specifically with the leadership team and the overall growth of pro lacrosse…We not only believe in the present of the PLL, but also its future.' Paul Rabil, the PLL's president, would not reveal the percentage of the league that ESPN now owns or what the league's valuation is following the deal. But he said no other investors were involved in this round. The PLL last raised money in 2022 when the league completed a Series D round of funding led by the Chernin Group, which was one of the league's initial backers. The PLL's other investors include Creative Arts Agency, Joe Tsai Sports, Arctos, the Raine Group, the Kraft Group, World Wrestling Entertainment and 35V, the family office of NBA star Kevin Durant. All told, the league has raised $118 million, according to PitchBook. Rabil said ESPN's investment 'signals belief in in our case, lacrosse's growth and the commercial potential of lacrosse.' He added that ESPN could benefit financially from the deal when the league either is sold outright or decides to sell franchises to outside investors. The PLL is a wholly-owned entity, meaning the league itself owns the eight franchises that compete. It is a similar arrangement to the UFC, a mixed martial arts league that sold for $4 billion in 2016, but a different model than the NFL, NBA, NHL or Major League Baseball, where the league doesn't own any of the franchises. Rabil, one of the best lacrosse players in history, launched the PLL while still playing professionally. His older brother, Mike, was a former Dartmouth football player and successful entrepreneur and investor. The PLL had its first season in 2019 and merged with its leading competitor, Major League Lacrosse, in December 2020. The league kept the PLL name and the media rights deal with NBC Sports, which the Rabils had earlier struck when they founded the league. ESPN obtained the PLL's media rights in 2022. When the extension kicks in next season, each PLL game will appear on ESPN's streaming service and some select games will air on ESPN, ESPN2 or ABC, as is the case this year. The deal also includes the Women's Lacrosse League, which PLL owns and launched this year. The PLL's season runs on Saturdays and Sundays from Memorial Day weekend in late May through mid-September, while the inaugural WLL season took place over a six-day period in February. While the PLL's franchises each represent a city or state, the teams compete each weekend in the same venue. For instance, this weekend the PLL games will be held in San Diego, with four games on Saturday and four more on Sunday. They were previously held in Albany, N.Y., Charlotte, N.C., Philadelphia and Baltimore. The league's semifinals take place on Sept. 1 (Labor Day) in Philadelphia, while the championship game is on Sept. 14 in Harrison, N.J. and is airing on ABC. Rabil said the support of ESPN is 'critical' to the league's success and noted top ESPN executives such as Chairman Jimmy Pitaro, President of Content Burke Magnus and Executive Vice President of Programming and Acquisitions Rosalyn Durant are all proponents of the sport and the league. 'It's what our predecessor was unable to achieve is a buy in from a network partner,' Rabil said. 'In the end, pro sports are media companies, and you need the best distributors and the best promoters in the business to support, especially a newer sports' entrance into a competitive marketplace.'
Washington Post
25-06-2025
- Business
- Washington Post
ESPN renews rights deal with Premier Lacrosse League and makes minority equity investment
BRISTOL, Conn. — ESPN has renewed its media rights deal with the Premier Lacrosse League for five seasons, the network announced Wednesday. The deal begins next year and includes all PLL games, Maybelline Women's Lacrosse League games, as well as future drafts for both leagues. ESPN began carrying PLL games in 2022. ESPN also announced it has also made a minority equity investment in the PLL. 'This partnership marks a historic moment for the PLL and WLL. ESPN's renewed commitment, along with their investment, speaks volumes about the future of lacrosse,' PLL co-founder and President Paul Rabil said in a statement. 'Together, we're not only bringing the best in professional lacrosse to more fans, more often, but we're building a model for how modern sports leagues can grow — with equity, innovation, and access at the center.' The PLL has eight teams and is in its seventh season. The WLL is in its first year with four franchises. All PLL and WLL games will stream on ESPN+, with select games on ABC, ESPN and ESPN2. 'We're thrilled to continue our relationship with the Premier Lacrosse League and expand our commitment to the ascendant sport by bringing the recently launched Women's Lacrosse League to ESPN. This renewal reflects our dedication to showcasing the best in lacrosse, growing the game across all levels, and delivering world-class competition to fans year-round,' Rosalyn Durant, Executive Vice President, ESPN Programming & Acquisitions, said in a statement. ___
Associated Press
25-06-2025
- Business
- Associated Press
ESPN renews rights deal with Premier Lacrosse League and makes minority equity investment
BRISTOL, Conn. (AP) — ESPN has renewed its media rights deal with the Premier Lacrosse League for five seasons, the network announced Wednesday. The deal begins next year and includes all PLL games, Maybelline Women's Lacrosse League games, as well as future drafts for both leagues. ESPN began carrying PLL games in 2022. ESPN also announced it has also made a minority equity investment in the PLL. 'This partnership marks a historic moment for the PLL and WLL. ESPN's renewed commitment, along with their investment, speaks volumes about the future of lacrosse,' PLL co-founder and President Paul Rabil said in a statement. 'Together, we're not only bringing the best in professional lacrosse to more fans, more often, but we're building a model for how modern sports leagues can grow — with equity, innovation, and access at the center.' The PLL has eight teams and is in its seventh season. The WLL is in its first year with four franchises. All PLL and WLL games will stream on ESPN+, with select games on ABC, ESPN and ESPN2. 'We're thrilled to continue our relationship with the Premier Lacrosse League and expand our commitment to the ascendant sport by bringing the recently launched Women's Lacrosse League to ESPN. This renewal reflects our dedication to showcasing the best in lacrosse, growing the game across all levels, and delivering world-class competition to fans year-round,' Rosalyn Durant, Executive Vice President, ESPN Programming & Acquisitions, said in a statement. ___
CNBC
25-06-2025
- Business
- CNBC
ESPN renews media deal with professional lacrosse, takes an equity stake in the league
ESPN is renewing its media deal with the Premier Lacrosse League and taking an equity stake in the organization. The five-year deal will begin with the 2026 season and include all PLL regular-season games as well as All-Star, playoff and championship games. The deal comes as pro lacrosse has seen gains across broadcast, partnerships and attendance. It will also be added to the 2028 Olympic Games in Los Angeles. As part of the deal, Disney-owned ESPN said it will take a minority stake in the league. A person familiar with the terms, who spoke on the condition of anonymity to discuss nonpublic details, said the investment gives ESPN a 3% stake. "ESPN are not only experts in their understanding sports fans, but they are also great predictors of audience and growth," PLL co-founder and president Paul Rabil told CNBC. "It's validating that they came in to invest in what we're building, and then as a partner, in addition to the expansion of coverage that they'll be giving." Rabil said the media deal with ESPN has been critical to the sport's growth. He said the network has been investing in lacrosse for roughly three decades. The partnership also seems to be paying off for ESPN. During the 2024 season, viewership on ABC for the PLL's championship game was up 9% year over year. The league also had its most-viewed All-Star game in its history, which aired on ESPN. The PLL is also seeing growth in nearly all metrics. Since 2019, paid tickets are up 34%, attendance is up 13%, ticket revenue is up 149% and sponsor dollars are up more than 100%, Rabil said. The league, now in its seventh season, has financial backing from the likes of Joe Tsai, the Chernin Group, Arctos, the Kraft Group and CAA. Last year, PLL announced it was starting a Women's Lacrosse League, which is currently in its inaugural season.
