Racket sports are rolling up.
The news: Pickleball Inc. raised $225M, led by Apollo Global Management, creating a vertically integrated platform valued at $750M.
Roll-up. The deal combines the PPA Tour and Major League Pickleball with media, retail, software, and infrastructure, generating a combined $140M+ in 2025 revenue.
Game on. A breakout hit, pickleball now counts 24M+ US players, but it’s just one part of the racket sports boom.
- Tennis: The USTA reports a record 27.3M US players, fueled by strong retention and an influx of new demographics.
- Padel: Expanding globally, padel reached 35M+ players as rapid club and court buildout accelerates adoption across key markets.
- New formats: Emerging startups like typti—backed by Drew Brees and Nick Kyrgios—are designing social-first alternatives with lower barriers to entry.
Platform play. From Padel Haus and Ballers to Fairgrounds, social clubs, rec leagues, and participation-driven infrastructure are scaling to meet demand.
Punchline: As private equity raises the stakes, operators must scale the ecosystem without losing the accessibility and social play that fueled the boom.
