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Major League Pickleball adds two more legendary athletes to its list of high-profile owners: Tom Brady and Kim Clijsters.
The two have been announced as part of an expansion club ownership group that will start playing in 2023 when the league goes from 12 to 16 teams. Brady and Clijsters follow NBA stars LeBron James, Kevin Love and Draymond Green, who bought an expansion club together last month.
The Brady and Clijsters group is led by Knighthead Capital Management LLC and also includes financial advisor Kaitlyn Kerr, who will become the team’s general manager. Matt Alvarez, a film producer who worked on ‘Straight Outta Compton’, is also an investor.
Major League Pickleball adds to its list of high profile owners with two more legendary athletes: Tom Brady (left) and Kim Clijsters (right)
People play pickleball at a public court in Brooklyn on Sept. 29. Easy to pick up and more accessible than tennis, pickleball is all the rage in New York as the sport attracts investors and becomes more professional in the US
Half of the new team will be owned by women, according to Front Office Sports. The MLP has pushed for gender equality in property.
Founder Steve Kuhn told FOS owner owners ‘will show the joy’ [pickleball] brings to millions of people around the world.”
The MLP season will conclude this weekend in a tournament, with a reported $319,000 at stake.
Played both indoors and outdoors, Pickleball is a paddle sport similar to tennis, only instead of a fluffy Dunlop, it uses a perforated, hollow polymer ball. The court size is about a third the size of tennis, and the game relies much more on volley than its sister sport.
The MLP has six tournaments scheduled for 2023 with over $2 million in prize money up for grabs.
The sport has suddenly become popular, although it is difficult to pinpoint an exact reason for this.
A study by the Sports and Fitness Industry Association found that 4.8 million Americans played pickleball in 2021, an increase of 11.5 percent from the previous five years.
Pickleball has an advantage over other sports in that it can be played by athletes of all ages, although it is most popular among the 18- to 34-year-old demographic.
The MLP said it aims to grow the sport to 40 million players by the end of the decade.
LeBron James (near left, with his wife Savannah) added to his sports portfolio last month with the acquisition of a professional pickleball team. James’ former Cleveland Cavaliers teammate Kevin Love and his Golden State Warriors rival Draymond Green (near right, with wife Hazel Renee) are also investing in the team, which has not yet decided on a name
The court size is about a third the size of tennis, and the game relies much more on volley than its sister sport
Kevin Love (pictured with wife Kate Bock) is also investing in LeBron James’s yet-to-be-named team. Played both indoors and outdoors, Pickleball is a paddle sport similar to tennis, only instead of a fluffy Dunlop, it uses a perforated, hollow polymer ball (right)
Brady already has a number of other appearances besides football and his burgeoning broadcasting career, which will reportedly begin with a $375 million contract with Fox Sports when he eventually retires from the Tampa Bay Buccaneers.
In addition to acting as a spokesperson for brands such as Under Armour, he sells sporting goods and nutritional products through his own company, TB12. Last year, he co-founded a sports-focused NFT venture, Autograph, and previously launched a production company, 199 Productions.
Earlier this year, Brady unveiled his new line of golf apparel and has partnered with University of Texas golfer Cole Hammer and Michael Brennan of Wake Forest to sign the pair to endorsement deals.”
“We have partnered with Cole and Michael, both exceptional athletes, to represent this collection and further support our commitment to supporting the next generation of youth athletes who embody the spirit and ethos upon which our brand is founded,” said Brady in a statement.
The agreement is allowed because the NCAA now allows its athletes to receive compensation for the use of their name, image and license.
Brady, a frequent competitor at celebrity golf events, sells the collection exclusively on his BradyBrand website with prices ranging from $75 to $195.
It’s just another expansion of the growing business empire for the seven-time Super Bowl champion.
A four-time Grand Slam singles winner and former world No. 1, Clijsters made more than $24 million in prize money before retiring in 2020. The married mother of three is now 39.
Tom Brady continues to invest off the field and recently started his own golf brand
Drew Brees is one of the investors already involved in Major League Pickleball
James already co-owned the Boston Red Sox of Major League Baseball, the Pittsburgh Penguins of the NHL, and Liverpool FC of the English Premier League. James added to his sports portfolio last month with the acquisition of a professional pickleball team.
James’ LRMR Ventures, which he owns with his longtime business partner Maverick Carter, is part of a consortium that has purchased an MLP expansion franchise for an undisclosed sum. James’ former Cleveland Cavaliers, Love, and his Golden State Warriors rival, Green, have also invested in the team, which has not yet decided on a name.
Pickleball is hugely popular in the US, and Front Office Sports reported last month that 66 new locations are opening in the US every month.
The 12-team MLP adds four clubs. Currently, the league counts retired New Orleans Saints quarterback Drew Brees, entrepreneur Gary Vaynerchuk and Milwaukee Bucks owner Marc Lasry among the team owners.
“When I started playing pickleball, I immediately connected with the sports community and the ability to be both fun and competitive,” Carter told CNBC. “Seeing the sport grow in communities everywhere is really exciting, and we look forward to bringing our expertise together to try and build a championship team.”
“Having LRMR Ventures, SC Holdings and their incredible group as owners and investors in Major League Pickleball is not only great for MLP, but it is a turning point for pickleball in general,” said MLP founder Steve Kuhn.
Gary Vaynerchuk speaks onstage during The NFT Revolution and What It Means For Brands at the Debussy Theatre, Cannes Lions. The investor is also involved in pro Pickleball