TAKKLE.com and Sports Illustrated (SI) have just formalized a closer agreement with SI's decision to purchase a minority stake in the social networking site. The pair have been cross-promoting since late 2006.

TAKKLE focuses on high school athletes, a savory demographic for Sports Illustrated, the longtime high school sports publication owned by Time, Inc.

The investment adds financial weight to a partnership that initially consisted of TAKKLE providing online nominations and high school sports content to SI's Faces in the Crowd component, which led print readers back onto the internet.

The New York City Investment Fund also joined SI in purchasing a stake.