Apollo Sports Capital Invests $225 Million in MLP and PPA Tour

Major League Pickleball (MLP) and the Carvana PPA Tour have transitioned to a new parent company, Pickleball Inc., following a $225 million structured investment led by Apollo Sports Capital. The announcement, made on May 1, 2026, marks a significant consolidation of the professional landscape for the US-based racket sport.

Apollo Sports Capital, a dedicated investment platform of the private equity firm Apollo, led the funding round. The investment also included participation from Dundon Capital Partners, the firm owned by billionaire Tom Dundon, who also owns the Carolina Hurricanes of the NHL and the Portland Trail Blazers of the NBA.

This new capital injection brings the total investment into the entity to $315 million, resulting in a company valuation of $750 million.

Consolidating the Professional Ecosystem

The formation of Pickleball Inc. Effectively merges the sport’s two most prominent professional organizations. Previously, the PPA Tour and MLP operated within a holding company known as the United Pickleball Association. Under the new structure, Pickleball Inc. Will serve as a comprehensive home to manage the sport’s growth.

Beyond the professional tours, the new parent company aims to integrate various vertical assets. According to reporting from Sports Business Journal, Pickleball Inc. Will combine its professional league and tour operations with assets in pickleball retail, software, media, and construction.

The scale of these combined verticals is substantial, with the organizations generating more than $140 million in revenue.

Strategic Implications for the Sport

The entry of Apollo Sports Capital and Tom Dundon represents a shift toward institutionalizing the sport’s commercial infrastructure. By bringing the PPA Tour and MLP under a single corporate umbrella, the organization can streamline its media rights, sponsorship deals, and event scheduling.

The PPA Tour focuses on individual and doubles competition, while Major League Pickleball, currently presented by DoorDash, utilizes a team-based format. The consolidation allows the sport to maintain both competitive styles while benefiting from a unified financial and administrative backbone.

The $225 million investment is intended to provide the necessary liquidity to scale operations as the sport continues its rapid expansion across the United States.

While the total valuation of Pickleball Inc. Is set at $750 million, the specific size of the stake held by Apollo Sports Capital within the new entity was not disclosed in the announcement.