Kevin Durant joins other investors to fund the Premier Lacrosse League
Kevin Durant is making some serious money moves with its new investment in the Premier Lacrosse League (PLL). Durant joins the billionaire Joe Tsai, Arctos Sports Partnersand Brett JeffersonBloomberg reports.
The Thirty-Five Companies of Durant and World Wrestling Entertainment Inc.along with other sports, entertainment and media personalities, have stepped up to fund the league.
According to Bloomberg, the PLL Major League Lacrosse was awarded Major League Lacrosse in 2020 to establish the athletic association as the only outdoor lacrosse organization in the United States.
“The market has seen proof of concept backed by performance,” said mike rabilCEO of PLL, who said ESPN had obtained media rights for the league.
“Our goal – in addition to growing the business – is to seize the opportunity to grow the sport internationally,” Rabil said, Bloomberg reports.
The Chernin Groupa rookie investor in the league, guided the round of additional investors.
New: @PremierLacrosse League is raising a new, undisclosed funding round led by The Chernin Group.
New investors include:
— Mark J. Burns (@markjburns88) July 21, 2022
Rabil wants to expand the league and believes the extra capital will help those efforts. One strategy will be to promote an off-season tournament leading up to the spring 2023 college lacrosse season. Rabil is pushing for lacrosse to be an event to be included in the 2028 Los Angeles Summer Olympics.
In addition to his financial ventures, Durant also made headlines when he responded to a fan regarding his reaction to a joke by Peyton Manning at the 2017 ESPYs, where he grilled Durant about joining the Warriors.
Ahead of Wednesday’s 2022 ESPY Awards, a Twitter user asked Durant why he seemed “so salty” about Manning’s sagacity. Durant deadpan replied “If it was funny, I would have laughed…it’s a simple concept”, the New York Post reports.
— Gas (@PSG_HeadHoncho) July 20, 2022
Durant undoubtedly laughs all the way to the bank with his shrewd investment choices.