Apollo Sports Capital Injects $225 Million into Unified Pickleball Entity

The rapid commercialisation of pickleball has reached a significant milestone as Apollo Sports Capital led a USD225 million (AUD310 million) structured investment into Pickleball Inc.

The deal, which values the parent company at USD750 million (AUD1 billion), officially merges the PPA Tour and Major League Pickleball (MLC) into a single consolidated entity, aiming to transition the sport from a “pandemic-era novelty” to a tier-one American sporting asset.

The consolidation seeks to solve the fragmentation that previously existed between the professional tour and league formats. By uniting retail, technology, and media verticals under one roof, the newly formed group reported generating more than $140 million in revenue in 2025.

Ownership and Governance

Following the deal, majority ownership remains with Tom Dundon (owner of the NHL’s Carolina Hurricanes) and the Pardoe family. Pickleball Inc. CEO Connor Pardoe described the investment as a “seismic day” for the business, signalling that the sport has matured beyond the emerging phase.

“The continued and dynamic year-over-year growth data has proven without a doubt that pickleball is… quickly becoming the next tier-one sport in America,” Odhwani stated.

Strategic Portfolio and Infrastructure Growth

The investment includes the full portfolio of Pickleball Inc., most notably the indoor franchise The Picklr, which was backed in 2024 at a USD59 million (AUD81 million) valuation. This focus on physical infrastructure is a core pillar of the new strategy, addressing the critical shortage of permanent courts across North America.

Key developments in the infrastructure and media space include:

• Media Reach: The PPA Tour set an all-time linear record in January with 791,000 average viewers on CBS, while MLP drew 499,000 viewers in a similar window.

• Facility Expansion: The capital will support the growth of the 190-club Life Time network, which currently hosts over 800 permanent courts, as well as new high-scale projects like the Traene Fitness & Pickleball facility in New Hampshire.

• Scalable Content: MLP commissioner, Samin Odhwani, confirmed the capital will be used to expand into new media opportunities and scalable event infrastructure.

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