DALLAS and AUSTIN, Texas, Feb. 29, 2024 /PRNewswire/ -- The leading professional pickleball organizations the Carvana PPA Tour ("PPA Tour") and MLP by Margaritaville ("MLP") announced today the completion of their previously announced merger and the formation of a unified and definitive professional pickleball holding company. The consolidation of the two entities is backed by a $75 million investment from private equity firm SC Holdings, D.C. Pickleball Team owner Al Tylis, PPA Tour owners Tom Dundon and the Pardoe Family, and a roster of existing MLP team owners.
The merger combines the leading individual bracket-style tour and team-based professional pickleball formats, with the PPA Tour and MLP retaining their distinct brands and the unique and exciting formats fans and players enjoy.
More than 150 professional pickleball players - including the top ranked players in the world - have signed multi-year contracts with the new entity, with many of them set to participate in an expanded calendar that combines individual (PPA Tour) and team (MLP) events throughout the year. This will provide players, fans, and sponsors with the benefits of a streamlined schedule, and will make following the sport easier for both avid and casual fans. Combined annual player payouts under the new unified organization in 2024 are expected to increase by nearly 250%, compared to 2023, which will provide more players with the opportunity to approach the sport as a full-time career.
"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 creates a sustainable, viable, and healthy ecosystem for all key participants in which the best players in the world can play in both of the thrilling pickleball formats, ensuring that we're promoting the highest-quality, most exciting events."
"This merger signals the next phase of growth for professional pickleball, and the combined resources and networks of the PPA Tour and MLP will support the sport at all levels," said MLP CEO Bruce Popko. "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, expanded 2024 schedule of PPA and MLP events. While unified through a parent company, the PPA Tour and MLP will maintain their distinct brands, allowing sponsors and partners to invest in the brands that best align with their business goals, all the while showcasing a consistent, premier product for fans across both playing formats."
Following the completion of the merger, the 2024 Carvana PPA Tour will include a calendar of events that began on January 9 at PPA Tour: The Masters in Palm Springs, California, and will feature 25 tournaments culminating with the PPA Tour Finals in San Clemente, California, on December 5-8. The 2024 MLP season schedule will feature a collection of regular season events, in addition to the 2024 MLP Mid-Season Tournament in July, and the 2024 MLP Playoffs in November. The league's 24 teams will be divided across two levels - Premier and Challenger - with each team appearing at numerous regular season events.
The parent company's board of directors and team owners include an impressive roster of business leaders, leading investors, and professional athletes. The new board of directors will include Jason Stein from SC Holdings, D.C. Pickleball Team owner Al Tylis, Matt Turney from Dundon Capital Partners, MLP team owner Julio DePietro, and former Goldman Sachs Partner Brian Levine.
About MLP by Margaritaville
MLP by Margaritaville (Major League Pickleball) is the preeminent team-based professional pickleball league, featuring over 100 of the best athletes across 24 teams, a unique coed format, easy to understand scoring, iconic team owners, and the most electric live events and fan experience in the sport. Founded in 2021, MLP named its first-ever title sponsor, Margaritaville, branding the league MLP by Margaritaville in December 2022. For more information on Major League Pickleball, visit the official website and follow MLP on Facebook, Twitter, Instagram, TikTok, and YouTube.
About Carvana PPA Tour
Founded in 2019, the Carvana PPA Tour is where pickleball's top athletes go head-to-head to determine the best male and female players in the world. The Carvana PPA Tour organizes and conducts tournaments at world-class facilities across the country, establishes player rankings, and showcases the world's best pickleball week in and week out. Inviting amateur players to also compete and "play where the pros play," the Carvana PPA Tour offers divisions for every age group and skill level. Characterized by a uniquely festive and fun atmosphere, Carvana PPA Tour events deliver unparalleled experiences for fans on-site, including pro player meet-and-greets, clinics, food, beverages, live entertainment, giveaways, games, shopping, and VIP upgrades. For more information, go to www.ppatour.com, and follow us on social: Twitter, Instagram, YouTube, Facebook, and LinkedIn.
Media Contacts:
Anne Hart, Prosek Partners
Jay Moskowitz, Major League Pickleball
Jeff Watson, Carvana PPA Tour
SOURCE Carvana PPA Tour; MLP by Margaritaville
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