Premier Lacrosse League raises $100 million with actor investors
The round, led by Ares funds and Joe Tsai, is the largest capital raise in professional lacrosse history, the Associated Press reported.
By Sofia Marchetti · World Affairs Correspondent
2 min read
The Premier Lacrosse League has added actors Rob Mac and Glen Powell to a $100 million financing round, the Associated Press reported. The deal matters for a growing sport because AP described it as the largest capital raise in professional lacrosse history.
According to AP, the round was led by Ares funds and Joe Tsai, the owner of the New York Liberty. ESPN also took a minority equity stake, expanding its role beyond media rights into league ownership.
The investment brings new entertainment and sports-business figures into the league as lacrosse prepares for a broader spotlight. AP reported that the 2026 Premier Lacrosse League and Women’s Lacrosse League seasons are being shown on ESPN platforms and ABC, with the sport headed back to the Olympics at the 2028 Los Angeles Games.
Jim Miller, co-head of Ares Sports, Media and Entertainment, will join the PLL board as part of the financing, according to AP. Powell, who appeared with Tom Cruise in “Top Gun: Maverick,” will serve as a creative adviser to the league.
AP reported that Powell will work with PLL founders Paul Rabil and Mike Rabil on efforts to bring the first Premier Lacrosse League and Women’s Lacrosse League teams to Texas. The report did not identify a city or timeline for those teams.
The Premier Lacrosse League is a men’s professional league with eight teams in North America, according to AP. The Women’s Lacrosse League is also part of the ESPN programming relationship described in the report.
Mike Rabil, the PLL’s co-founder and chief executive, said the sport is approaching a key period as the Olympics near, according to AP. He said the league is focused on building support for growth through high-level competition, wider distribution, youth participation and a stronger professional structure.
ESPN’s investment deepens an existing relationship with the lacrosse properties, AP reported. The network already serves as a media rights partner, with coverage that includes live games and original storytelling tied to both the PLL and the Women’s Lacrosse League.
The deal also continues a recent pattern of celebrity and institutional money moving into sports properties, though AP’s report focused on the lacrosse transaction and did not disclose individual investment amounts for Mac, Powell, ESPN, Ares funds or Tsai. The league’s next test will be converting new capital and Olympic attention into a larger audience for its professional competitions.
This story draws on original reporting from Fortune.