Wednesday, the league revealed that NBA stars LeBron James, Kevin Love, and Draymond Green have invested in a Major League Pickleball franchise.
James’ business partner Maverick Carter, their family office LRMR Ventures, investment firm SC Holdings, Relevant Sports Group CEO Daniel Sillman, and SpringHill Company CMO Paul Rivera accompanied the sportsmen.
The league’s news release stated, “The new ownership group revealed today brings unrivaled experience and impact across sports, media, entertainment, and branding.” “With this group, MLP intends to grow the community beyond its current members and into more varied worldwide groups.”
The parties’ purchase of a club was not disclosed, but the MLP stated that the league will grow from 12 to 16 teams.
MLP Founder Steve Kuhn stated in the announcement, “Pickleball is the fastest-growing sport in the country, forming communities in cities and countries all over the world.” This funding and the platform provided by this organization will considerably assist us in reaching our objective of 40 million pickleball players by 2030.
The league intends to have all of its players compete in six national tournaments for more than $2 million in 2019, according to the MLP.
According to the 2022 Sports & Fitness Industry Association Single Sport Report on Pickleball, Pickleball has become the fastest-growing sport in the United States, with an estimated 4.8 million players in 2021, a 15% growth from 2020. The majority of respondents define themselves as “casual” players.
According to the survey, the fastest growth rate of Americans who have taken up the sport is among women and those under 24 years old.
Pickleball, which was created in 1965 in the state of Washington, blends tennis, ping-pong, and badminton. Players use paddles to repeatedly strike a plastic wiffle ball over a net. There are courts in recreation centers, parks, schools, and other locations around the United States and Canada.
Not for the first time, prominent athletes have shown interest in the MLP. Drew Brees, a former NFL star quarterback, became the main owner of the Austin, Texas Mad Drops in July. Jim Buss is a minority owner of the Los Angeles Lakers, of which he is co-owner.