Premier Lacrosse League lands $100 million to chase Olympic moment

The Premier Lacrosse League closed a $100 million Series E funding round led by Ares funds and Alibaba co-founder and Brooklyn Sports & Entertainment chairman Joe Tsai, the league announced Tuesday. Additional investors include actor Glen Powell, actor and Wrexham AFC co-owner Rob McElhenney, Carolyn Tisch Blodgett's Next 3, and David Blitzer's Bolt Ventures. After taking a minority stake in PLL and the Women's Lacrosse League last year as part of a five-year media rights extension, ESPN bought an additional stake in the business in this round.

The first fundraising round for the company since 2022 comes two years before lacrosse is played in the LA 2028 Olympics, the first time the sport will be included in the Games as an official event since 1908. It's a crucial period of preparation for PLL, which aims to become a top-five major team-sports league in North America over the next 10 years.