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Closing Bell

Sources: Paul Rabil, Raine Group Starting New Lacrosse League

Lacrosse player Paul Rabil is "starting a new outdoor league with a group of sports and media investors led by the Raine Group, setting up a battle" with MLL to "secure the best players," according to sources. The six-team Premier Lacrosse League, or PLL, reportedly "will begin play next summer," though "contracts with players, broadcast partners and venues aren’t complete." Sources said that the league "has secured the participation of a number of well-known players," who will be "full-time employees, receive health benefits and get an undisclosed equity stake in the league." The PLL season will run from June to September, "meaning it won’t overlap" with the indoor NLL or college lacrosse seasons (BLOOMBERG NEWS, 9/25).

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