Apollo Sports Capital & Tom Dundon Invest $225M in Pickleball

Pickleball continues to gain serious financial momentum, and the latest investment signals just how far the sport has come. Pickleball Inc., the parent company behind Major League Pickleball (MLP) and the PPA Tour, has secured a record-breaking $225 million in funding.

The deal brings together Apollo Sports Capital, a newly launched sports-focused fund under Apollo Global Management, and Dundon Capital Partners, led by billionaire Tom Dundon.

This move places pickleball firmly in the spotlight as one of the fastest-growing sports in the United States.

A Major Milestone for Pickleball

Instagram | connor_pardoe | CEO Connor Pardoe aims to unify professional pickleball, tech, and media into a single, cohesive ecosystem.

The $225 million injection pushes Pickleball Inc.’s total funding to $315 million. The company is now valued at approximately $750 million, according to a source familiar with the matter. This valuation reflects strong investor confidence in emerging sports, especially those showing consistent participation growth and revenue potential.

Tom Dundon, known for owning the Portland Trail Blazers (NBA) and the Carolina Hurricanes (NHL), has been involved in pickleball early on. His continued backing signals long-term belief in the sport’s business potential.

Connor Pardoe, CEO of both MLP and the PPA Tour, described the moment clearly:

“This investment allows us to fully integrate the sport into one cohesive ecosystem—uniting professional pickleball, consumer goods, technology, and media under a single, unified platform.”

Building a Unified Pickleball Ecosystem

The investment is not just about funding. It also reshapes the structure of Pickleball Inc. by combining multiple assets under one umbrella. Several businesses previously owned by Dundon now fall within the company’s growing portfolio.

These include Pickleball Central, a leading equipment retailer founded in 2006, along with PickleballTournaments.com, a widely used software platform that manages thousands of tournaments across different levels. Just Courts, a company specializing in court installation, also joins the lineup.

This consolidation creates what Pickleball Inc. describes as the largest integrated ecosystem in the sport. The goal is to streamline operations while strengthening connections between players, events, and equipment providers.

Strong Revenue Growth Across Segments

Pickleball Inc.’s combined business divisions generated more than $140 million in revenue in 2025. This figure highlights how the sport is expanding beyond casual play into a structured and profitable industry.

At the professional level, both MLP and the PPA Tour have seen steady financial gains. Sponsorship revenue alone reached $30 million in 2025, while total combined revenue hit $60 million. Projections for 2026 suggest further growth, with expected revenue climbing to $74 million.

These numbers reflect rising interest from brands, broadcasters, and fans. As tournaments draw larger audiences, the sport continues to build a stronger commercial foundation.

Pickleball’s rapid rise in popularity plays a key role in attracting investment. According to the Sports & Fitness Industry Association’s Annual Report, more than 24 million people in the United States played pickleball in 2025. This makes it the fastest-growing sport in the country over the past three years.

The appeal lies in its accessibility. Players of all ages can pick up the game quickly, and the social aspect adds to its widespread adoption. As more recreational players join, the professional scene benefits from increased visibility and support.

Expansion Plans Across Media and Events

Instagram | @thekitchenpicklebal | Pickleball’s rapid growth and strong investment now push it toward a major professional sport future.

The new capital will help Pickleball Inc. expand into media, content production, and live events. There is also a focus on improving infrastructure to support the sport’s growing tournament schedule.

MLP Commissioner Samin Odhwani addressed the broader vision:

“This capital raise will allow us to expand our focus into new and scalable opportunities like content, media, and the development of infrastructure to support our fast-growing events.”

He added that consistent year-over-year growth proves pickleball is no longer an emerging sport. Instead, it is moving toward becoming a top-tier sport in the United States.

Ownership Structure Remains Stable

Despite the significant investment, control of the company remains largely unchanged. Tom Dundon and the Pardoe family will continue as majority shareholders. This ensures continuity in leadership while allowing new investors to support expansion efforts.

The balance between fresh capital and existing leadership helps maintain strategic direction while scaling operations.

Pickleball’s latest funding round marks a turning point for the sport’s business trajectory. With $225 million in new investment, Pickleball Inc. is positioned to connect every aspect of the game—from professional leagues to equipment and digital platforms—under one system.

Strong participation numbers, rising revenues, and growing investor interest all point in the same direction. Pickleball is shifting from a recreational pastime into a structured, high-value industry with long-term potential.