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Pickleball Inc. clinches landmark $225 million investment into fast-growing sport
By Cara Tabachnick News Editor Cara Tabachnick is a news editor at CBSNews.com. Cara began her career on the crime beat at Newsday. She has written for Marie Claire, The Washington Post and The Wall Street Journal. She reports on justice and human rights issues. Contact her at cara.tabachnick@cbsinteractive.com Read Full Bio May 1, 2026 / 6:26 PM EDT / CBS News Add CBS News on Google Pickleball players are everywhere.Now, a $225 million investment announced Friday establishes Pickleball Inc., a dedicated home to manage the fast-growing sport. The deal merged Major League Pickleball and the Carvana PPA Tour, two of the nascent sport's most active entities, under the new parent company, the organizations said in a statement.MLP Commissioner Samin Odhwani said the capital infusion from Apollo Sports Capital "shows without a doubt that pickleball is no longer an emerging sport, and is instead quickly becoming the next tier one sport in America.""Pickleball is one of the fastest growing sports in the world, appealing to players and fans of all ages, and we are excited to be making this structured investment," said Al Tylis, CEO of Apollo Sports Capital. More than 24 million people played pickleball in 2025, a 22%
Apollo Sports Capital and Tom Dundon make landmark $225 million investment in pickleball
Ben Johns comes over to the right side to hit a dink shot against Anna Bright and Hayden Patriquine in the 2026 PPA Carvana Mesa Cup finals match of the Pro Mixed Doubles Division at Arizona Athletic Grounds on February 22, 2026 in Mesa, Arizona. Bruce Yeung | Getty ImagesPickleball Inc., the new parent company of Major League Pickleball and the PPA Tour, said Friday it has raised a record $225 million in new investment, as the paddle sport continues its rapid growth trajectory. The latest investment comes from Apollo Global Management's newly created sports fund, Apollo Sports Capital, and Dundon Capital Partners, owned by billionaire Tom Dundon. Dundon is an owner of the Portland Trail Blazers NBA team and the Carolina Hurricanes NHL team and was an early investor in pickleball. The fresh funds bring the total investment in Pickleball Inc. to $315 million, as investors continue to look at emerging sports as a place to park their money. The raise values Pickleball Inc. at $750 million, according to a person familiar with the matter, who asked to remain unnamed because they were not authorized to speak publicly about the company's valuation. The deal also includes rolling up several
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