{"id":3618,"date":"2026-05-12T15:08:35","date_gmt":"2026-05-12T06:08:35","guid":{"rendered":"https:\/\/pickle-times.com\/news\/apollo-pickleball-investment\/"},"modified":"2026-05-12T15:08:35","modified_gmt":"2026-05-12T06:08:35","slug":"apollo-pickleball-investment","status":"publish","type":"news","link":"https:\/\/pickle-times.com\/en\/news\/apollo-pickleball-investment\/","title":{"rendered":"Apollo x Dundon Pour $225 Million into the Pickleball Industry -- A Massive Ecosystem with a $750 Million Enterprise Value Is Born"},"content":{"rendered":"

On May 1, 2026, Apollo Global Management's sports-focused fund \"Apollo Sports Capital\" and Dundon Capital Partners, led by Tom Dundon, owner of the NHL's Carolina Hurricanes and the NBA's Portland Trail Blazers, announced they had invested a total of $225 million (about 33.8 billion yen) in Pickleball Inc. Pickleball Inc.'s enterprise value reaches $750 million (about 112.5 billion yen).<\/p>\n

The Full Picture of the Investment -- The $225 Million Breakdown and Aim<\/h2>\n

Pickleball Inc. is an integrated holding company established in 2025 as the parent of the Professional Pickleball Association Tour (PPA Tour) and Major League Pickleball (MLP). Including this $225 million, cumulative funding raised has reached $315 million.<\/p>\n

Apollo Sports Capital is a newly established sports-focused fund under Apollo Global Management. Tom Dundon and the Pardoe family retain a majority of shares even after the investment, keeping control of management.<\/p>\n

The investment has three purposes: expanding the pro tour, integrating consumer-facing businesses (equipment sales and court construction), and pouring funds into media and content production.<\/p>\n

Background -- A 6x Increase in Participants in 4 Years, with Revenue Growing Rapidly Too<\/h2>\n

Pickleball's growth speed sets it apart from other sports. According to the Sports & Fitness Industry Association's (SFIA) 2025 report, the US playing population surged from 4.2 million in 2020 to over 24 million in 2025.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
Metric<\/th>\nFigure<\/th>\n<\/tr>\n<\/thead>\n
Total Investment<\/td>\n$225 million (about 33.8 billion yen)<\/td>\n<\/tr>\n
Cumulative Funding Raised<\/td>\n$315 million<\/td>\n<\/tr>\n
Enterprise Value<\/td>\n$750 million (about 112.5 billion yen)<\/td>\n<\/tr>\n
2025 Sponsorship Revenue<\/td>\n$30 million<\/td>\n<\/tr>\n
2025 Total Revenue<\/td>\n$60 million<\/td>\n<\/tr>\n
2026 Revenue Forecast<\/td>\n$74 million<\/td>\n<\/tr>\n
US Playing Population (2025)<\/td>\nOver 24 million<\/td>\n<\/tr>\n
US Playing Population (2020)<\/td>\n4.2 million<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Under Pickleball Inc., in addition to the PPA Tour and MLP, are the equipment EC \"Pickleball Central,\" tournament-operation software, and a court-construction business. Its 2025 consolidated sales exceeded $140 million.<\/p>\n

Industry Reactions -- \"A Milestone Toward Becoming a Tier-1 Sport\"<\/h2>\n

PPA Tour CEO Connor Pardoe said, \"We're creating an end-to-end experience that connects pro play to consumer products to media.\"<\/p>\n

MLP commissioner Samin Odhwani emphasized, \"Pickleball is not a niche sport; it's rapidly growing into America's next tier-1 sport.\" He indicated a policy of directing this funding toward content, media, and infrastructure development.<\/p>\n

Apollo Sports Capital, too, rates pickleball as \"the highest-growth area within sports investment,\" and has made clear its intent in choosing Pickleball Inc. as the first deal for its newly established fund.<\/p>\n

Impact on Players -- Increased Prize Money and Court Development<\/h2>\n

This large funding round brings direct benefits to players too. An increase in the PPA Tour's total prize money, expansion of MLP teams, and nationwide indoor-only court construction are planned.<\/p>\n

For recreational players too, a strengthened equipment selection through Pickleball Central and an improvement in practice environments through the expansion of the court-construction business can be expected.<\/p>\n

Ripple Effects on the Industry -- Will the Integrated Model Spread to Other Sports?<\/h2>\n

Pickleball Inc.'s model of integrating \"a competition body + EC + media + facilities\" into a single company may influence other racket sports such as padel and squash.<\/p>\n

In traditional sports business, league operation, equipment makers, and facility operation were handled by separate companies. If Pickleball Inc. succeeds with this vertically integrated model, a development in which industry M&A activity accelerates is also conceivable.<\/p>\n\n\n\n\n\n\n\n\n\n
Item<\/th>\nDetails<\/th>\n<\/tr>\n<\/thead>\n
Investor<\/td>\nApollo Sports Capital \/ Dundon Capital Partners<\/td>\n<\/tr>\n
Investee<\/td>\nPickleball Inc. (parent of PPA Tour + MLP)<\/td>\n<\/tr>\n
Businesses Under It<\/td>\nPPA Tour \/ MLP \/ Pickleball Central \/ tournament software \/ court construction<\/td>\n<\/tr>\n
Announcement Date<\/td>\nMay 1, 2026<\/td>\n<\/tr>\n
The Next Point to Watch<\/td>\nDetails of the indoor-court construction plan in the latter half of 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Summary<\/h2>\n

The single investment amount of $225 million is the largest in pickleball industry history. The entry of an institutional investor like Apollo Sports Capital and Tom Dundon's additional investment can be called a symbolic event marking pickleball's shift from a \"trendy sport\" to a \"major sport as an investment target.\" The indoor-court rollout and media-contract developments from the latter half of 2026 onward will be the next milestone.<\/p>\n

Recommended Reading<\/p>\n