Summary
- LeBron James and his business partner Maverick Carter are investing in pickleball via LRMR Ventures
- Draymond Green, Kevin Love, and investment firm SC Holdings are also part of the group
- The investment will help the MLP in its mission to expand the pickleball community
NBA star Lebron James is joining forces with other prominent figures in the NBA to become the new owners of a professional pickleball team. Major League Pickleball (MLP), the first team-based professional pickle league in the US, recently announced that James and American sports-marketing businessman Maverick Carter are investing in the league, alongside other NBA superstars.
James and Carter, who are long-time business partners, are joining the ownership group via their family office, LRMR Ventures. James, who currently plays for the Lakers, is already involved in numerous sports-related businesses, holding stakes in English professional football club Liverpool, as well as the Boston Red Sox of Major League Baseball (MLB) as well as having an interest in owning a NBA franchise when retiring .
Announcing the entrance of the new ownership group, MLP said it would bring “unparalleled experience and impact” in the world of sports, media, entertainment, and branding, adding that the league would remain committed to its goal of welcoming more participants and building more diverse communities across the globe.
A mix of badminton, tennis, and Ping-Pong, Pickleball has enjoyed increasing popularity over the past couple of years. The sport isn’t entirely new though as it started several decades back, but it only began to enter the mainstream in 2020, around the time the pandemic hit. You don’t need to spend that much to play pickleball and the game is also easy to learn, which explains why it has become a huge hit.
Also part of the ownership group is investment firm SC Holdings, and business executives Paul Rivera (CMO of The Springhill Company) and Daniel Sillman (co-owner and CEO of Relevent Sports Group). NBA champs Draymond Green of the Golden State Warriors and Kevin Love of the Cleveland Cavaliers are also joining the group.
The MLP is planning to increase the number of teams from 12 to 16, opening the door to potential investors looking to join the list of team owners which currently includes entrepreneur Gary Vaynerchuk, co-owner of the Milwaukee Bucks Marc Lasry, and Super Bowl champion Drew Brees. The MLP said its ultimate goal is to reach 40 million pickleball players by 2030.
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