Pickleball Inc. eyes multibillion-dollar growth after Apollo-backed funding
Apollo's $225 million bet valued Pickleball Inc. at $750 million, with a push toward bigger venues, more events, and destination court builds.
Pickleball Inc. emerged from a $225 million Apollo Sports Capital-led capital raise with a $750 million valuation and a bigger mandate than running pro matches. The company is now the parent of the Carvana PPA Tour and Major League Pickleball, and it is openly talking about a multibillion-dollar future built around events, media, retail, and infrastructure.
The move builds on the March 2024 creation of the United Pickleball Association, the holding company for the merged PPA Tour and MLP. That consolidation brought the sport’s top pro properties under one roof, and Pickleball Inc. has leaned hard into the idea that pickleball’s growth is no longer just about what happens inside the lines. The company pointed to record 2024 fan turnout and multi-platform viewership as evidence that the audience is already large enough to support a broader business.
The numbers behind the next phase are even more telling. Pickleball Inc. projects $140 million in revenue in 2026, with about $80 million of that coming from its pro leagues. It says it has more than 50 events on the calendar, 180 athletes, and more than $33 million in prize money. The United Pickleball Association previously said total player earnings could reach up to $31 million starting in 2026, which puts real pressure on the sport’s economics to keep pace with its visibility.
For everyday players and retreat planners, the key question is where that money lands. Pickleball Inc. says ticketing and sponsorship are its biggest revenue drivers, and it has said capital will go toward public-private partnerships for larger festival-style venues, expansion into Asia, Australia, and Europe, and content production aimed at landing a national broadcast rights deal. That mix points to a future where access, pricing, and the feel of a tournament weekend may matter just as much as the draw size.
The broader market is already moving in the same direction. USA Pickleball says Pickleheads added more than 2,300 new places to play in 2025, bringing the U.S. total to 18,258 locations, with 82,613 known courts nationwide. The Sports & Fitness Industry Association said 24.3 million Americans played pickleball in 2025, after 19.8 million in 2024, a 45.8% jump from 2023. Resorts are chasing that demand too: Ohana Pickleball Club opened in Kaanapali, Maui, with 12 professional-grade courts, and Black Desert Resort in Southern Utah announced a 21-court complex with a championship court for up to 1,000 spectators.
Pickleball Inc.’s valuation tells one part of the story. The courts, the resort builds, and the broadcast ambitions show where the rest of it is headed.
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