Lacy Schneemann of the Florida Smash returns a shot during a Major League Baseball Pickleball group game against BLQK at Pickle & Chill in Columbus, Ohio, on October 15, 2022.
Emilee Chinn | fake images
Major League Pickleball and the Professional Pickleball Association completed their long-awaited merger deal and injected new capital into the sport, the leagues announced Thursday.
The deal will unite the two largest pickleball organizations into one holding company, but the PPA Tour and MLP will retain their own distinct brands and formats. It was not immediately clear what the new company will be called.
The agreement comes after months of drama, hostility and negotiations between competing pickleball leagues, which are now joining forces to determine the future of professional pickleball.
The consolidation will also bring a $75 million investment from a group that includes private equity firm SC Holdings, DC Pickleball team owner Al Tylis, PPA Tour owners Tom Dundon and the Pardoe family, as well as a slate of existing MLP equipment owners.
“Today is an exciting day for everyone involved or interested in the world of pickleball,” said PPA Tour Founder and CEO Connor Pardoe. “MLP and the PPA Tour working as partners create a sustainable, viable and healthy ecosystem for all key participants in which the best players in the world can play in both exciting pickleball formats, ensuring that we are promoting the highest quality, events. more exciting.”
The merger will bring together more than 150 professional pickleball players, including many of the best players in the world. As part of the agreement, the players signed new multi-year contracts, and many of them will participate in an expanded schedule that combines PPA Tour and MLP events throughout the year.
The PPA Tour features an individual group-style tour, while the MLP is a team-based format.
According to the release, combined payments under the new unified organization are expected to increase nearly 250% this year compared to last year.
Several players told CNBC after the merger's closing was announced that they still have not been paid for past tournaments.
“I'll believe it when they start paying,” said one player.
The combined organization is expected to be a boost for professional sports, providing players, fans and sponsors with the benefits of a simplified calendar.
“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 and expanded schedule of PPA and MLP events for 2024,” said Bruce Popko , CEO of MLP. .
It has been a journey full of obstacles. The merger deal was first announced in September 2023, but stalled after a bitter dispute between the two organizations that led to a competitive arms race for players.
In August, when the merger appeared to be in jeopardy, the leagues went on a spending spree to try to attract top professionals to their respective leagues by offering them huge contracts. They were then forced to backtrack and ask players to take pay cuts, as a result of their heavy spending.
In the weeks that followed, MLP underwent a major restructuring as founder Steve Kuhn resigned and newly appointed CEO Julian DePietro and commissioner Brooks Wiley departed.
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