Youth Sports Site WePlay Raises $4.5 Million

Little League meets MySpace:, a social networking site for youth sports that is set to launch in mid-April, has landed $4.5 million in financing, the NYT reports. That includes a $1.87 million A-1 round PEHub uncovered from Pequot Private Equity, the Creative Artists Agency, and Major League Baseball.

The idea: An ad-supported site where coaches can manage teams and update parents, and where youngster athletes can intermingle. Mix in home videos and teen pictures of pro athletes that have an equity stake in the company, like Yankees shortstop Derek Jeter. The NY-based startup says it’s already signed sports card company Upper Deck for ads.

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