Premier Lacrosse League President and Co-Founder Paul Rabil joins Yahoo Finance’s Brian Sozzi and Rachelle Akuffo at the 2024 Cannes Lions International Festival of Creativity to discuss financial literacy in sports and the league’s future.
Rabil notes that a major trend in sports is more players building financial security and long-term wealth. His biggest piece of advice for players is to "Take your time. Interview several or more wealth advisers or groups," instead of going with the first option provided to them. He notes that, just like lacrosse, having a team is key to financial success.
As for the future of the league, Rabil explains its unique position: "We’re a team sports league that’s wholly owned. So we own the league, all eight teams, we work with our players on marketing deals, so it’s fully turnkey, which is important to advertisers." He notes that the league is getting increased exposure, especially as lacrosse will be included in the 2028 Los Angeles Olympics. With more eyes on the sport, Rabil believes "it’s incumbent on the league now to continue to grow commercially, help participation grow internationally."
Thus, global expansion is top of mind for the league: "We have an approach where we want to invest because we know the challenges to emerge and grow in the US from a cost standpoint, from an education and coaching standpoint. So we’ve been to Japan, we’ve been to Australia, we’re looking at the rest of Europe and Asia Pacific to… very meticulously grow and help the international game grow."
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