Billionaire sports owner Tom Dundon has committed to help secure a $225 million investment for Pickleball Inc., a move that values the company at approximately $750 million and underlines growing confidence in the sport’s commercial future.
Dundon, whose net worth is estimated at $2.3 billion, has been among the most influential investors in pickleball’s rapid rise. Best known as the owner of the Portland Trail Blazers in the NBA and the Carolina Hurricanes in the NHL, he first entered into pickleball in 2022 through an investment in Connor Pardoe’s Professional Pickleball Association (PPA) Tour.
Since then, those assets have been integrated into Pickleball Inc., a holding company that has expanded its footprint across multiple areas of the sport, including retail, media, court construction, and professional leagues.
The latest development sees Dundon leading Apollo Sports Capital in raising $225 million for the company. The investment marks one of the most significant financial commitments made to pickleball to date and reflects the sport’s growing appeal among major investors.
Explaining his confidence in the sport, Dundon pointed to pickleball’s accessibility and broad appeal.
“It seemed a pretty good bet that pickleball would grow because it’s easy to do, it’s fun, it’s easy to learn,” he told Sports Business Journal.
Pickleball’s growing stature
Participation figures appear to support that optimism. Over the past five years, 25 million players have taken up the sport, helping transform pickleball from a recreational pastime into one of the fastest-growing sports in North America.
Dundon’s increasing influence, however, has also sparked discussion about the direction the sport could take as it matures commercially. Known for his emphasis on operational efficiency, the billionaire has previously attracted attention for implementing cost-cutting measures within his sports franchises. This was most prominently seen with the Portland Trail Blazers, whose playoff appearance this season came amid scrutiny over Dundon’s budget-conscious approach.
Supporters argue that such financial discipline could help establish a sustainable long-term model for professional pickleball, creating stronger pathways for athletes while building a more resilient business ecosystem. Others believe the sport’s community-driven identity could face challenges as larger corporate interests become more deeply involved.
Regardless of those debates, the latest funding round signals that pickleball has secured one of the sports industry’s most prominent backers, with Dundon placing a major wager on the game’s continued global growth.
