[REPLAY] Paul Rabil - Lacrosse and Entrepreneurship (Capital Allocators, EP.95)

Tour Model

The Premier Lacrosse League (PLL) adopted a tour-based model, a strategic move that sets it apart from traditional sports leagues. Paul Rabil explains that this model allows all teams to play in major market cities, optimizing production costs and enhancing fan engagement through festival-like events 1. This approach also solves distribution challenges by aligning game schedules with network programming windows, ensuring better media coverage 1.

Sports are consumed through media. Less than 5% of sports fans actually go to games. You're consuming it through your mobile device, your tablet, your television, circle of conversation.

--- Paul Rabil

Rabil's vision for lacrosse includes leveraging modern media and technology trends, similar to the success seen in UFC and CrossFit, to grow the sport's popularity 2.

   

Financial Strategy

The financial strategy behind the PLL's launch involved a shift from private equity to venture capital, starting with a seed round to secure essential partnerships and infrastructure. Paul Rabil emphasizes the importance of building a strong investment thesis and engaging with networks and stadiums to anchor a network deal 3. The league's tour-based model attracted interest from major networks like NBC, which became a key partner, broadcasting 19 games and providing significant exposure 4.

We were certain we were going to get a network deal because we had all the interests from CB's, NBC, Fox, Turner, ABC, Google, Amazon, Facebook and Twitter.

--- Paul Rabil

This strategic financial planning was crucial in positioning lacrosse as a major sport with growing viewership and sponsorship potential.

   

Team Formation

Team formation in the PLL deviates from traditional city affiliations, focusing instead on player chemistry and competitiveness. Paul Rabil describes the process of selecting top players based on performance and potential, creating a player pool that allows flexibility and competition 5. The league also offers elevated wages and healthcare options, treating players as valuable assets with stock options, akin to a Silicon Valley startup 6.

Our players have options in the business and going along with where we're seeing trends in sports as players become by far and away the most valuable asset in the league.

--- Paul Rabil

This innovative approach not only attracts top talent but also aligns players' interests with the league's growth and success.