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Watch the @PPAtour Summer Championships tomorrow on CBS at 4 PM ET. The game, a bit like playing ping pong while standing on the table, is one of the fastest-growing recreational activities in the United States. The trio is part of an ownership group for Major League Pickleball, which currently has 12 four-person teams, but will be expanding to 16 teams next year. See here for a complete list of exchanges and delays. NFL. Ad Feedback. LeBron James, the king of basketball courts, is one of the newest owners of a professional pickleball team. To create regional allegiances and drum up rivalries, Major League Pickleball is considering geographical affiliations for its 16 teams next year. Pickleball is also the fastest-growing sport in America, according to the Sports & Fitness Industry Association (SFIA). Its a fast-paced sport based on quick hands and reflexes but is also strategic. At Gray, our journalists report, write, edit and produce the news content that informs the communities we serve. And LeBron James is actually involved? 2 min read LeBron James and Draymond Green are now official owners of a pickleball team. All quotes delayed a minimum of 15 minutes. After acquiring stakes in top-level teams from baseball to hockey to auto racing to European soccer, LeBron James is now buying into a sport on a truly meteoric ascent: pickleball. Exclusive news, data and analytics for financial market professionals, Editing by Jeffrey Goldfarb and Amanda Gomez, Digital ad vultures descend on TVs carcass, Kering dons Valentino scent to ease Gucci malaise, Soaring StanChart still has lots of work to do, Chinese AI arrives by stealth, not with a bang, Consumers will win in cannabis-credit card clash. You can say that in bold, because that would be a fact, says Rivera. LeBron James is buying a pickleball team - NPR The winning team will net $100,000. NPR transcripts are created on a rush deadline by an NPR contractor. Like many others, Rivera himself started playing pickleball during the pandemic, initially on a work trip with Carter in Mexico in 2020. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Thats how you playpickleball, which was invented in the 1960sas a backyard game. Draymond Green joines LeBron James as pickleball franchise owners - mlive Jordan, who also backs the Alpine F1 team and A.F.C Bournemouth football club, and Drake join a growing roster of high-profile pickleball investors from entertainment and sports including Kevin . Does LeBron James have a pickleball team? He just bought a team. This investment and the platform that this group provides will significantly help us with our goal to reach 40 million pickleball players by 2030.. The duo will own the team through LRMR Ventures, their family office. The fastest-growing age group is pickleball players under 24. . NBA stars LeBron James, Kevin Love and Draymond Green have bought into a Major League Pickleball team, the league announced Wednesday. The industry leader for online information for tax, accounting and finance professionals. There are currently some 5 million pickleball players in the U.S., according to SFIA data; participation jumped 39.3% from 2019 to 2021. The family that made $7.6 million from recycling cans and bottles was just charged with fraud, Zillow is so sure that U.S. home prices have bottomed that it just issued bullish calls for these 48 housing markets, Chinese youth unemployment is so dire that some parents are paying their adult kids to be full-time children, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. It's MORNING EDITION. Los Angeles Lakers' LeBron James shares a laugh with staff members during the NBA basketball team's Media Day Monday, Sept. 26, 2022, in El Segundo, Calif. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Pickleball is a tennis-like sport that is played inside and outside, with either a single player or two players on both sides of the net using paddles to hit the ball back and forth. Move Over Everything? Here Comes Major League Pickleball. However, it has exploded in popularity in recent years: According to aFebruary report from theSports & Fitness Association, pickleball has reigned as Americas fastest-growing sport for the past two years. "Pickleball is the fastest-growing sport in the country, building communities in cities and towns all over the world," MLP Founder Steve Kuhn said in the announcement. The new Major League . Copyright 2022 WMBF. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. To see the sport growing in communities all over is really exciting, and were looking forward to bringing our expertise together to try and build a championship team.. In July, former star NFL quarterback Drew Brees became the majority owner of the Austin, Texas Mad Drops. Pickleball, America's fastest-growing sport, is a hit at Jewish camps Terms & Conditions. . NEW YORK, Sept 29 (Reuters Breakingviews) - Pickleball is all the rage and just received a professional endorsement. The name of the team, where it will play and other specific details werent immediately available. The sport has 4.8 million enthusiasts in the U.S., according to the Sports & Fitness Industry Association, including Bill Gates and the Kardashian family. Even LeBron James is obsessed with America's pickleball - Fortune Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. James joins an ownership group in a sport described as a combination of badminton, tennis and ping-pong. "The potential market for pickleball is enormous," said Erica Desai, one of the co-founders of . Major League Pickleball's Brooklyn Aces have added some star power to the roster. hide caption. In the announcement Wednesday, MLP said it is expanding from 12 to 16 teams. Rivera, a former Nike exec, says that James, Love, and Green are all fans of the sport. Copyright 2023 CBS Interactive Inc. All rights reserved. Players, often competing in doubles teams, swat perforated plastic balls back and forth with hard paddles. Adding the maker of pricey Rockstud bags could help it reduce its dependency on tottering star brand Gucci. MLP will be expanding from 12 to 16 teams in 2023, playing in six cities nationwide. FORTUNE may receive compensation for some links to products and services on this website. In 2015, he reached a lifetime deal with Nike. Ella Feldman Our Standards: The Thomson Reuters Trust Principles. The Los Angeles Lakers superstar is part of a new ownership group announced Wednesday by Major League Pickleball, which has a team-focused format that differentiates it from other nascent professional leagues in the sport. Does LeBron James Have a Pickleball Team? - Pickle Hive James also has stakes in the smart gym company Tonal and ride-hailing service Lyft, reports Forbes, which notes he has cash and other investments totaling $500 million. The team the groups purchased wasn't announced, but the MLP said the league is expanding from 12 to 16 teams. Investment firm SC Holdings is also part of the group. LeBron James ' ever-growing investment portfolio added a new professional sports team this week. As pickleball continues to claim courts, social media feeds and major headlines throughout summer 2023, Major League Pickleball's Brooklyn Aces team has added Drake and Michael B. Jordan, among . Magazines, Digital LeBron James buys pro pickleball team - CNBC Bren Brown, the author and podcast host, former New Orleans Saints quarterback Drew Brees, and Milwaukee Bucks owner Marc Lasry are among the existing team owners in the league. . Pickleball is often described as the perfect blend of tennis, ping-pong and badminton. REUTERS/Mario Anzuoni. Dybantsa Works Out With KD And LeBron James. LeBron James #6 of the Los Angeles . LeBron James buys into Major League Pickleball team, as sport continues In addition to MLP, theProfessional Pickleball Association and theAssociation of Pickleball Professionals run professional pickleball matches, transforming the sport from an amateur backyard game to a popular spectator sport. After years of relative inaction, the boss of 66 billion euro conglomerate Kering has zoomed in on two top brands to revive its flagging fortunes. Maverick Carter, James longtime friend and business partner, shared that the groups overall interest in the sport came from playing it together over the past couple of years. The league also said that at this year's season finale, which will be held Oct. 14-16 in Columbus, Ohio, 48 players will compete for the largest single-event purse in the history of professional pickleball, $319,000. LeBron James is buying a professional pickleball team - New York Post The financial terms of the deal were not disclosed. This investment and the platform that this group provides will significantly help us with our goal to reach 40 million pickleball players by 2030.. When I started playing pickleball, I immediately connected with the sports community and its capacity to be both fun and competitive, Carter said in an interview with CNBC. Using small, solid-faced paddles, players hit a hollow plastic ball with holes in it over a net on a badminton-sized court. All rights reserved. The investors includes LRMR Ventures, the family office of James and Carter; Green; Love; Rivera; investment firm SC Holdings; and Daniel Sillman, co-owner and CEO of Relevent Sports Group, a media and promotion company. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. The number of pickleball players is now at 4.8 million almost double the number from just five years ago, according to the Sports and Fitness Industry Association. Now, James is headlining a group poised to purchase a pro team in. How does this league work? Copyright 2022 NPR. Anne Worcester, MLPs strategic advisor, explained that the demand for owning a pickleball team is increasing with more than 60 different groups showing interest. As international participation grows, pickleball could end up in the Olympics. Powered and implemented by Interactive Data Managed Solutions. James and his business partner, Maverick Carter, announced Wednesday that they would join an ownership group of a Major League Pickleball (MLP) team. LeBron James secures right to own Major League Pickleball team - USA TODAY Originally created in 1965 in Bainbridge Island, Washington . Last month, James became a minority investor in Italian soccer power AC Milan through a private investment firm, RedBird Capital Partners. Still, millions of amateurs remainover 4.5 million in the United States, to be precise.