Pickleball continues its explosive growth in the United States and is now drawing investment figures typical of major sports properties. Pickleball Inc., the newly formed parent company of Major League Pickleball and the PPA Tour, announced a historic $225 million funding round from Apollo Sports Capital and Dundon Capital Partners, the investment vehicle of billionaire Tom Dundon.
This deal marks a major leap for a sport that has rapidly evolved from a recreational pastime into a serious industry player. With this round, total investment in Pickleball Inc. reaches $315 million. According to CNBC, the funding values the company at approximately $750 million, underscoring the growing appetite for emerging sports.
Tom Dundon is no stranger to the sports business. He owns the NHL’s Carolina Hurricanes and the NBA’s Portland Trail Blazers, and was an early major investor in pickleball. His commitment is now strengthened by this transaction, which will also consolidate several key assets under the Pickleball Inc. umbrella.
The company will integrate businesses such as Pickleball Central, a leading equipment retailer; PickleballTournaments.com, a software platform managing thousands of tournaments; and Just Courts, a court installation specialist. According to the company, these merged divisions generated more than $140 million in revenue in 2025.
Connor Pardoe, CEO of MLP and the PPA Tour, called the investment a “landmark day” for the pickleball business. “This investment allows us to fully integrate this sport into a cohesive ecosystem, uniting professional pickleball, consumer goods, technology, and media under a single, unified platform,” he said.
The racket sport’s growth has been explosive. In 2025, over 24 million people played pickleball in the United States, making it one of the fastest-growing sports in the country. At the professional level, the MLP and PPA circuits have also boosted their business: they recorded $30 million in sponsorship and $60 million in combined gross revenue in 2025. For 2026, combined projections reach $74 million.
The new capital will strengthen strategic areas including media, content creation, events, and infrastructure development. Samin Odhwani, commissioner of MLP, stated that pickleball “is no longer an emerging sport” and is “quickly becoming the next top-tier sport in the United States.”
Former professional tennis players such as Pato Clavet, Vivi Ruano, and Álex Corretja have been seen promoting the sport, which has been integrated into the Spanish Tennis Federation. The operation marks a turning point: pickleball is not just adding players, courts, and tournaments—it is attracting capital, structure, and ambition to compete on the big sports business stage.
