Already a part owner of Major League Baseball's Boston Red Sox, the NHL's Pittsburgh Penguins, and Liverpool FC of the English Premier League, LeBron James is adding to his sports portfolio once again with the acquisition of a professional pickleball team.
James' LRMR Ventures, which he owns with long-time business partner Maverick Carter, is part of a consortium buying a Major League Pickleball expansion franchise for an undisclosed amount. James' former Cleveland Cavaliers teammate Kevin love and his Golden State Warriors rival Draymond Green are also investing in the team, which has yet to decide on a name.
The 12-team MLP is adding four clubs. Currently the league counts retired New Orleans Saints quarterback Drew Brees, entrepreneur Gary Vaynerchuk, and Milwaukee Bucks owner Marc Lasry among its team owners.
'Having LRMR Ventures, SC Holdings, and their incredible group as owners and investors in Major League Pickleball is not just great for MLP, but it's a watershed moment for pickleball in general,' said MLP founder Steve Kuhn.
Played both indoors and out, pickleball is a paddle sport similar to tennis, only instead of a fuzzy Dunlop, it uses a perforated, hollow polymer ball. Court sizes are about a third the size of tennis dimensions, and the game relies on volleying much more than its sister sport.
The MLP has six tournaments scheduled for 2023 with more than $2 million in prize money up for grabs.
The sport has suddenly gained in popularity, although pinpointing an exact reason for that is difficult.
One survey from the Sports and Fitness Industry Association found that 4.8 million Americans played pickleball in 2021, which is up 11.5 percent over the previous five years.
Pickleball has an advantage over other sports because it can be played by athletes of all ages, although it's most popular among the 18-to-34 demographic.
Front Office Sports reported last week that there are 66 new pickleball venues opening across the US every month.
The MLP said it aims to grow the sport to 40 million players by the end of the decade.