Pickleball Inc., which owns Major League Pickleball and the PPA Tour, raised a record $225 million from Apollo Sports Capital and Dundon Capital Partners.

The investment reflects pickleball’s rapid growth, with 24 million U.S. players in 2025.

The recent funds will expand the business across media, events and operations, while adding assets like Pickleball Central and tournament software to the Pickleball Inc. portfolio.

Pickleball Inc., the updated parent firm of Major League Pickleball and the PPA Tour, remarked Friday it has raised a record $225 million in latest investment, as the paddle sport continues its rapid growth trajectory.

The latest investment comes from Apollo Global Management’s newly created sports fund, Apollo Sports Capital, and Dundon Capital Partners, owned by billionaire Tom Dundon. Dundon is an owner of the Portland Trail Blazers NBA team and the Carolina Hurricanes NHL team and was an early investor in pickleball.

The fresh funds bring the total investment in Pickleball Inc. to $315 million, as investors continue to look at emerging sports as a place to park their capital. The raise values Pickleball Inc. at $750 million, who asked to remain unnamed because they were not authorized to speak publicly about the company’s valuation.

The deal also includes rolling up several pickleball assets under the Pickleball Inc. umbrella, creating what the firm called the largest pickleball ecosystem to date.

Pickleball Inc. will take on a portfolio of pickleball assets previously owned by Dundon, including Pickleball Central, a leading site for pickleball equipment founded in 2006. The portfolio also includes PickleballTournaments.com, software that powers thousands of tournaments across all levels of play, as well as Just Courts, a pickleball court installer.

Pickleball Inc.’s newly merged business verticals combined generated over , according to a person familiar with the matter$140 million in 2025 revenue, the corporation mentioned.

In a release, MLP and PPA Tour CEO Connor Pardoe called the updated investment a “seismic day” for pickleball’s rapidly growing business at all levels.

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

Dundon and the Pardoe family will remain majority shareholders in the business after the investment.

Pickleball has exploded in popularity in recent years, with more than 24 million U.S. players participating in 2025, making it the fastest growing sport in the country over the last three years, according to the Sports & Fitness Industry Association’s Annual Report. This also touches on aspects of earnings report.

At the professional level, the MLP and PPA Tour have seen major growth with a combined $30 million in sponsorship revenue in 2025 and $60 million in combined top line revenue for 2025, which operates both leagues. The MLP and PPA Tour are projecting , according to the United Pickleball Association$74 million in combined revenue in 2026.

The novel capital for Pickleball Inc. will be used to further integrate the pickleball business at all levels of play and create a streamlined pickleball ecosystem, the business remarked.

“This capital raise will allow us to expand our focus into recent and scalable opportunities like content, media, and the development of infrastructure to support our fast growing events,” MLP Commissioner Samin Odhwani stated in a statement. “The continued and dynamic year-over-year growth data has proven without doubt that pickleball is no longer an emerging sport, and is instead quickly becoming the next tier one sport in America.”