Pickleball investment surges with a landmark $225 million injection into Pickleball Inc., establishing it as the parent company of the Carvana PPA Tour and Major League Pickleball (MLP). This significant structured investment, announced on May 1, 2026, was spearheaded by Apollo Sports Capital, an investment platform of Apollo (NYSE: APO), with additional backing from Dundon Capital Partners, owned by billionaire Tom Dundon. The deal creates what is described as the largest singularly operated pickleball ecosystem, poised to seamlessly integrate professional and amateur play with technology, retail, media, and infrastructure.
Pickleball Inc.’s newly combined business verticals generated impressive revenues exceeding $140 million in 2025, underscoring the sport’s rapid commercial ascent. Tom Dundon and the Pardoe family will maintain their majority shareholder positions, further contributing valuable pickleball assets spanning facilities, courts, e-commerce platforms, and technology. The five-person board of Pickleball Inc. now comprises Al Tylis, Connor Pardoe, Jason Stein, Zubin Mehta, and Brian Levine. Al Tylis, CEO of Apollo Sports Capital, lauded professional pickleball as “the most successful emerging sports league of the past decade.”
Pickleball Investment Soars: A Financial Deep Dive
This substantial pickleball investment highlights the sport’s explosive growth, cementing its status as the fastest-growing sport in the U.S. for an unprecedented five consecutive years. In 2025, an estimated 24.3 million Americans actively participated in pickleball, marking a remarkable 22.8% year-over-year increase and an astonishing 171.8% jump over just three years. The sport now proudly ranks as the fourth-most played nationally. Casual participation (1-7 times per year) reached 16.8 million people in 2025, while the dedicated core players (8+ sessions annually) climbed to 7.48 million.
“Professional pickleball is the most successful emerging sports league of the past decade, attracting significant institutional interest.”
The widespread popularity of pickleball is largely attributed to its inherent accessibility, welcoming atmosphere, and considerable health benefits, making it an attractive option for players across all ages and skill levels. Invented in 1965 by Joel Pritchard, Bill Bell, and Barney McCallum on Bainbridge Island, Washington, the sport has evolved into a global phenomenon. The worldwide pickleball market was valued at $2.2 billion in 2024 and is projected to reach an impressive $9.1 billion by 2034, demonstrating a robust compound annual growth rate of 15.3%.
Market Valuation and Investor Trends
The latest injection from Apollo Sports Capital and Dundon Capital Partners brings the total pickleball investment in Pickleball Inc. to $315 million, elevating the company’s valuation to a substantial $750 million. This strategic move by institutional investors reflects a broader trend of capital flowing into fast-growing sports sectors, particularly as valuations in more established major leagues have reached unprecedented levels. This dynamic landscape offers new opportunities for investors seeking high-growth potential in emerging markets. Read more in our related Finance news.
The Future of Pickleball: Integration and Expansion
This significant pickleball investment is not merely about capital; it’s about building a cohesive and expansive ecosystem. The integration of professional and amateur play with advanced technology, robust retail channels, comprehensive media coverage, and essential infrastructure aims to solidify pickleball’s long-term viability and appeal. With a combined business generating substantial revenue and a clear vision for growth, Pickleball Inc. is well-positioned to capitalize on the sport’s burgeoning popularity and translate it into sustained financial success, proving it’s far from just a passing fad.
