A Record Investment For A Fast Growing Sport
Pickleball Inc., the new parent company of Major League Pickleball and the PPA Tour, has raised 225 million dollars in new investment. The funding marks a record capital raise for the sport and reinforces investor interest in emerging athletic markets with strong participation growth.
The investment comes as pickleball continues to expand rapidly in the United States. With millions of recreational players, growing professional leagues and rising sponsorship revenue, the sport is moving from niche activity to a more developed commercial ecosystem.
Apollo And Dundon Back The Expansion
The new financing comes from Apollo Sports Capital, the newly created sports fund of Apollo Global Management, and Dundon Capital Partners, owned by billionaire Tom Dundon. Dundon owns the Portland Trail Blazers and Carolina Hurricanes and was an early investor in pickleball.
The fresh capital brings total investment in Pickleball Inc. to 315 million dollars. According to a person familiar with the matter, the raise values the company at 750 million dollars, reflecting the growing appetite for sports assets beyond traditional leagues.
A Larger Pickleball Ecosystem Takes Shape
The deal also rolls several pickleball assets into Pickleball Inc., creating what the company describes as the largest pickleball ecosystem to date. The move is designed to connect professional play, consumer products, tournament technology, court development and media under one platform.
Pickleball Inc. will take on assets previously owned by Dundon, including Pickleball Central, a leading equipment site founded in 2006. The portfolio also includes PickleballTournaments.com, which powers thousands of tournaments across different levels of play, and Just Courts, a pickleball court installer.
Revenue Shows Commercial Momentum
The newly merged business verticals generated more than 140 million dollars in revenue in 2025, according to the company. That figure highlights how the sport’s growth is translating into broader business activity across equipment, events, software and infrastructure.
MLP and PPA Tour chief executive Connor Pardoe called the investment a seismic day for pickleball. He said the funding will allow the company to integrate professional pickleball, consumer goods, technology and media into a unified platform.
Participation Growth Attracts Investors
Pickleball has grown quickly in recent years, with more than 24 million US players in 2025. According to the Sports & Fitness Industry Association’s Annual Report, it has been the fastest growing sport in the country over the last three years.
That participation base is central to the investment case. A large recreational market can support equipment sales, local tournaments, media content, sponsorships and professional events, giving investors multiple ways to monetize the sport’s expansion.
Professional Leagues Eye The Next Tier
At the professional level, Major League Pickleball and the PPA Tour generated a combined 30 million dollars in sponsorship revenue in 2025 and 60 million dollars in combined top line revenue, according to the United Pickleball Association. They are projecting 74 million dollars in combined revenue in 2026.
The new capital will be used to further integrate the business, expand content and media opportunities and develop infrastructure to support fast growing events. MLP Commissioner Samin Odhwani said pickleball is no longer simply an emerging sport, but is moving quickly toward becoming a next tier one sport in America.
