The Premier Lacrosse League (PLL) and its newly launched sister league, the Women’s Lacrosse League (WLL), have entered into a multiyear agreement with U.S. Bank to become their official banking and wealth management partner. This deal comes just a week after the PLL signed luxury car manufacturer Lexus as a title auto sponsor.
Partnership Details
PLL co-founder and president Paul Rabil explained that the partnership with U.S. Bank will be instrumental in transforming professional lacrosse from a startup venture into a structured sports investment vehicle, akin to the more established Big Four sports leagues: football, basketball, baseball, and hockey. U.S. Bank, being the fifth-largest commercial bank in the U.S. with $659 billion in assets as of March 31, will provide the necessary financial expertise to help the leagues grow.
According to Rabil, U.S. Bank will assist the PLL and WLL in evaluating their ownership structure, whether to adopt a single-entity ownership model or franchising. The bank will also help manage the leagues’ real estate portfolio, including establishing a permanent headquarters for league operations. Rabil emphasized the importance of having a sophisticated banking partner to help achieve their enterprise value potential.
The partnership extends beyond the leagues themselves, as U.S. Bank will also become the inaugural founding partner for the PLL’s California Redwoods and the WLL’s California Palms, both based in San Diego. This move aligns with the bank’s interest in supporting a sport with a demographic that values both current financial stability and future wealth management. Rabil noted that 50% of lacrosse fans are young families with children under 18, making wealth management a crucial aspect of their financial planning.
Impact and Future Prospects
Rabil’s involvement in the sports media space is also expanding, as he will host “Rabil’s Places” on ESPN+, a new addition to Peyton Manning’s “Places” franchise, debuting on June 4. This follows the influence of WWE’s Stephanie McMahon and her husband Paul “Triple H” Levesque, who have helped PLL grow as a sponsorship destination. WWE is an investor in the PLL, along with other notable investors such as Joe Tsai, David Blitzer, Robert Kraft, and Arctos Partners.
The PLL has grown significantly since its launch in 2019, expanding from six teams to include a new team in Philadelphia and absorbing the Boston Cannons from Major League Lacrosse in 2021. With the support of U.S. Bank, the PLL and WLL are poised for further growth and development in the professional sports landscape.
