Deals

Patriots Owner Robert Kraft Joins Investors Backing Upstart Lacrosse League

Organization announces financing round ahead of third season
Alibaba billionaire Joe Tsai and Arctos are also investors

Robert Kraft on the sidelines of a game in Inglewood, California, in December.Photographer: Harry How/Getty Images

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By Bailey Lipschultz and Jason Kelly

June 2, 2021 at 12:00 PM UTC

The Premier Lacrosse League raised new funds from investors such as New England Patriots owner Robert Kraft, shoring up the organization just ahead of a third season that gets underway at the Patriots’ stadium.

Among the new investors is private equity firm Arctos Sports Partners, the league said in a statement. Existing backer Joe Tsai, the billionaire co-founder of Alibaba Group, also participated. The financial terms of the deal weren’t disclosed, though PLL Chief Executive Officer Mike Rabil said the valuation increased from previous rounds.