Major Investment Transforms Pickleball Landscape with $225 Million Deal
A New Era for Pickleball
Apollo Sports Capital has spearheaded a groundbreaking investment of $225 million in Pickleball Inc, establishing the largest unified ecosystem in the sport. This significant deal merges the PPA Tour and Major League Pickleball under a single parent company, along with associated technology, retail, and infrastructure platforms.
According to Pickleball Inc, the combined business sectors are projected to generate over $140 million in revenue by 2025. Current stakeholders, including Tom Dundon and the Pardoe family, will maintain their majority ownership while integrating additional assets across facilities, e-commerce, and technology.
Connor Pardoe, CEO of Pickleball Inc, described the investment as a pivotal moment for the sport, stating, “Today marks a seismic shift for the rapidly expanding pickleball industry at all levels. This funding enables us to fully unify the sport into a cohesive ecosystem, merging professional pickleball, consumer goods, technology, and media into one platform. By collaborating with leading companies in the field, we are crafting a comprehensive experience for every pickleball enthusiast, from casual players to dedicated fans. Ultimately, this initiative is about fostering the culture, enjoyment, and community that are integral to pickleball’s essence.”
Al Tylis, CEO of Apollo Sports Capital, emphasized the investment as a testament to the sport's swift growth. “Pickleball is among the fastest-growing sports globally, attracting players and fans across all age groups. We are thrilled to make this structured investment, which presents a unique chance to merge these assets and redefine how a professional sports league can operate within a unified ecosystem. We believe this company now possesses the necessary resources to elevate to the next level, having already established itself as the most successful emerging sports league of the last decade.”
This investment arrives as participation in pickleball continues to surge. The sport has been recognized as the fastest-growing in the United States for five consecutive years, with an estimated 24 million players by 2025, as reported in the 2026 SFIA Annual Report. It currently ranks as the fourth most popular sport in the nation.
At the professional level, pickleball has also been commended for its commitment to gender equity, showcasing equal participation at PPA and MLP events. The top 60 female players earn an average of over $260,000 annually, the highest among professional women's team sports.
Major League Pickleball Commissioner Samin Odhwani noted that this investment will enhance the sport's outreach. “The consistent and dynamic growth data year over year has unequivocally demonstrated that pickleball is no longer an emerging sport; it is swiftly ascending to become a tier-one sport in America. This capital infusion will enable us to explore new and scalable opportunities in content, media, and infrastructure development to support our rapidly growing events.”
Pickleball Inc will operate under a five-member board, which includes Al Tylis, Connor Pardoe, Jason Stein, Zubin Mehta, and Brian Levine. This deal is anticipated to boost investments in media, infrastructure, and grassroots participation as pickleball continues to expand both professionally and within local communities.