Major League Ultimate announced that they have secured an additional round of funding, covering the 2016 budget and providing flexibility for short and long-term goals.
Amid a period of reorganization and change at MLU, the league announced today that their investment group has extended a new round of funding that will cover the 2016 season and allow for the changes in both operation and structure that the Executive Committee deemed necessary for the future of the company.
“We are humbled and bolstered by the continued interest and support of our investors.” said Lindi Sabloff, MLU CFO and VP of Investor Relations, “I’m pleased we have funding for 2016 and the flexibility to move towards our long term strategic plans.”
The most notable operational change, announced last week, will be the addition of cross-divisional play for the first time in league history. During the first three seasons of play, teams have only played within their geographic conference, with Eastern and Western champions meeting in the MLU Championship. Under the new budget, the 2016 season will feature two regular season cross-divisional matches, with the New York Rumble traveling to San Francisco to play the Dogfish and the Portland Stags taking on the defending champion Whitecaps in Boston.
“This is an expression of faith in the business model we’ve built here and the team we’ve put together and gives us an opportunity to create long-term strategies that are going to be successful,” said MLU Executive VP Nic Darling, “It would be impossible to accomplish what we have accomplished here without the amazing group of people that have backed us.”
Addressing another operational priority of the Executive Committee, the new investment also allows MLU to enjoy greater flexibility in designing and implementing video coverage for the 2016 season.
Internally, the new round of funding allows for an expansion of the league’s full-time staffing. Securing the people that have helped build the company, and creating desirable positions for new talent was a priority for the Executive Committee during the recent transition. New full-time positions will begin to be filled as the offseason continues and the 2016 competition approaches.