By Miguel Mike Medina
Photo Credit: Getty Images; Premier Lacrosse League
PLL co-founder and President, Paul Rabil, joined CNBC Sport to discuss his business ventures and plans for his company in the years to come. He goes into detail about why people should invest in his company.
“You could start at the macro forces around in real-life experiences, and this being an asset class on Wall Street that has a premium tied to it,” Rabil said. “You can look at stocks like MSG and that are market-capped at the valuation of the Knicks, not including the Rangers valuation, and why you can make an argument of spin-outs, so the sports business has gone from having living Picassos on your wall to real operating companies.”
The sports media landscape has been very profitable lately. Lacrosse is a sport that could become popular in the future, and the growth of the sport can’t be overlooked or underestimated. Rabil’s company model is a C-Corp, and they’re a single entity.
“When we launched, we were whole owned, so venture backed, different than you know, trade associations like the NBA, the NFL, there was professional lacrosse that existed before us that went the path of selling teams at $0 in revenue, no IP, no fan data, and we felt like under a essential individual sports model like the UFC, WWE, F1 we could grow faster, build IP, generate real revenue, and then approach the path of selling teams to where you can attract, hypothetically, better more sophisticated sort of like institutional sports owners,” Rabil said.
Rabil announced a fundraising campaign. They want to bring as many eyeballs as possible. The hope is to start seeking teams in 2028, which will coincide with the Los Angeles Summer Olympics.
“What’s attractive is that if you own a percentage of the entire league, when you sell off teams, you can treat those team sales as proceeds to the business, maintaining your equity, and then looking at our first eight teams, and the next day, and the eight after that,” Rabil said.
Miguel Mike Medina is the publisher of The MMM Journal. He can be reached at medinamiguelmike@gmail.com and themmmjournal@gmail.com
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