Major League Pickleball by Margaritaville (MLP) and Carvana PPA Tour (PPA Tour) completed their merger, forming a unified pickleball entity backed by a $75 million investment from private equity and high net-worth individuals, according to a news release.
The two entities announced an agreement to merge last September.
Funding came from private equity fund SC Holdings; D.C. Pickleball Team owner Al Tylis, who is an investor in Mexican soccer team Club Necaxa; PPA Tour owners Tom Dundon, who owns the NHL’s Carolina Hurricanes; and various existing MLP team owners. The family of PPA Tour Founder and CEO Connor Pardoe is also among the investors.
Over 150 players signed multiyear contracts with the new entity and will compete in an expanded season of PPA Tour and MLP events.
“Commercially, this unification positions us to be even better partners, as sponsors, broadcast partners, venue operators, equipment manufacturers and others will benefit from the combined, expanded 2024 schedule of PPA and MLP events,” Bruce Popko, MLP CEO, said in a statement.
The season features 25 tournaments ending with the PPA Tour Finals in San Clemente, Calif., from Dec. 5-8.
