Pickleball Inc. has become the new parent company of the Carvana PPA Tour and Major League Pickleball (MLP presented by DoorDash) following a $225 million structured investment led by Apollo Sports Capital, an investment platform of Apollo (NYSE: APO).

The capital raise results in the largest singularly-operated pickleball ecosystem in existence, integrating professional and amateur pickleball with leading technology, retail, and infrastructure platforms. Pickleball Inc.’s newly-merged business verticals generated over $140 million in 2025 revenue on a combined basis, while setting a host of growth records. Tom Dundon and the Pardoe family will remain majority shareholders in the business, rolling in several additional pickleball assets across facilities, courts, ecommerce, and technology.

“This is a seismic day for the rapidly growing business of pickleball at all levels,” said PPA Tour founder and Pickleball Inc. CEO Connor Pardoe. “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. By bringing together the best companies in the space, we’re creating an end-to-end experience that serves every pickleballer on their journey, whether they’re a casual enthusiast or a dedicated fanatic. At its core, this is still about building and delivering the culture, fun, and community that define pickleball’s DNA."

“Pickleball is one of the fastest growing sports in the world, appealing to players and fans of all ages, and we are excited to be making this structured investment,” said Al Tylis, CEO of Apollo Sports Capital. “This is a unique opportunity to support the combination of these assets, effectively reimagining how to create a professional sports league under a single ecosystem and platform for growth. We believe that the Company now has the resources it needs to get to the next level, having already proved itself as the most successful emerging sports league of the past decade.”

Pickleball Inc.’s business momentum, combined with the explosion of the sport at the amateur level - pickleball has been named the fastest-growing sport in America in each of the last five years (24 million players in 2025) and is the fourth-most played sport in the country, per the 2026 SFIA Annual Report - shows the strength of, and opportunities for, the newly combined entity.

The professional sport has been a marquee platform for gender equity, with men and women on court equally during both PPA and MLP events. Additionally, the top 60 women in the sport average over $260,000 in annual salary, the highest average pay in all of professional women’s team sports.

“The continued and dynamic year-over-year growth data has proven without a doubt that pickleball is no longer an emerging sport, and is instead quickly becoming the next tier one sport in America,” said MLP Commissioner Samin Odhwani. “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.”

The five-person board of Pickleball Inc. includes Al Tylis, Connor Pardoe, Jason Stein, Zubin Mehta, and Brian Levine.

Additional information on Pickleball Inc.’s business verticals, which encompass every level of the sport, from pro players at the very top of the pyramid to casual players enjoying pickleball for the very first time:

Professional Play - Carvana PPA Tour & MLP presented by DoorDash

• Pro pickleball’s leading tour (fall-spring season) and coed team league (summer season), respectively, with a collection of over 150 signed pro players and a combined year-round event calendar bringing the best pros from around the world to markets across the U.S.

• Recently established all-time linear viewership records for both PPA (791,000 avg. viewers on CBS, Jan. 18, 2026) and MLP (499,000 avg. viewers on CBS, Aug. 23, 2025)

• PPA/MLP athletes earn a total of more than $33 million in prize money and payouts ($260,000+ annual avg.)

Retail - Pickleball Central

• The market-leader in pickleball retail, offering equipment - from paddles to balls to shoes - in addition to accessories and apparel

• World’s largest pickleball retailer, shipping over 1 million orders since its founding in 2006

• Omni-channel, with over 100 Pickleball Central pro shops across the United States

Software - Pickleball Play Solutions

• The software that powers PPA and MLP events - PickleballTournaments.com - in addition to thousands of amateur tournaments and league seasons, annually, with a 90% market share for events and organized play

• PPS website properties average approximately 5 million visits per month

• PPS website properties hosted 4,500 tournaments and 2,000 league seasons in 2025

Court Construction - Just Courts

• The “Official Court Installer” for many prestigious organizations across the pickleball market, including MLP & PPA events, schools, facilities, and community centers

Media - Pickleball.com and Pickleball TV

• Pickleball.com is the go-to online destination for live scores, news, video highlights, merchandise, tournaments, leagues, clubs, ratings, and clinics, offering the latest updates from across the world of pickleball

• Pickleball TV, a joint venture with Tennis Channel, is the only 24/7 digital network dedicated to America’s fastest-growing sport, available on YouTube TV and as a FAST channel on a collection of streaming services, bringing fans live coverage of every PPA and MLP event

Investments in Picklr and DUPR

• Picklr, the leading indoor pickleball facility brand, features over 500 locations worldwide

• DUPR, the world’s most accurate pickleball rating, with over 1 million DUPR rated pickleball players participating in matches, building community, and improving their skill level