DALLAS, TX - The PPA Tour and Major League Pickleball (MLP) announced Thursday afternoon that they have completed their previously announced merger and after months of negotiation.

According to a press release from the PPA Tour, the consolidation of the two entities is backed by a $75 million investment from private equity firm SC Holdings, D.C. Pickleball Team owner Al Tylis, PPA Tour owners Tom Dundon and the Pardoe family, and several existing MLP team owners.

Both the PPA and MLP will maintain their distinct brands and competition formats—the bracket-style tournaments of the PPA and the team-based competitions of Major League Pickleball.

The release also states that more than 150 professional players have signed multi-year contracts with the new entity that will allow them to compete in an expanded schedule that combines both PPA and MLP-style events.

Additionally, annual player payouts are expected to increase by close to 250% in 2024 under the new organization.

“Today is an exciting day for everyone involved or interested in the world of pickleball,” said PPA Tour founder and CEO Connor Pardoe. “MLP and the PPA Tour working as partners creates a sustainable, viable, and healthy ecosystem for all key participants in which the best players in the world can play in both of the thrilling pickleball formats, ensuring that we’re promoting the highest-quality, most exciting events.”