LeBron James is a pickleball fan. And now he's buying a team

LeBron James, the king among basketball courts, is the latest owner of a professional pickleball club.

Major League Pickleball announced Wednesday James and Maverick Carter, his business partner, will join the company's ownership ranks. They will join fellow NBA champions DraymondGreen and Kevin Love. The sport has become a huge business because of its popularity in recent months.

According to MLP, the interest of the all-star ownership group in the sport stemmed from their shared experience playing the sport over the past few years.

Carter said that he was a pickleball player when he started playing. He immediately felt connected to the sport's community, which is both fun and competitive. "Seeing the sport grow in communities all around is really exciting. We're excited to bring our expertise together to build a championship team.

Through their family office, LRMR Ventures, James and Carter will be the owners of the team. SC Holdings, an investment firm; Paul Rivera (chief marketing officer at SpringHill Co.); and Daniel Sillman, co-owner of Relevent Sports Group and CEO of Relevent Sports Group are other investors.

The financial terms of the deal weren't disclosed.

Anne Worcester, MLP’s strategic advisor, said that negotiations began in July with the new ownership group and culminated in a meeting at U.S. Open tennis tournament, August.

"We felt a connection immediately over our passion for pickleball and their passion for growing professional pickleball teams. ... They have so much experience in sports marketing, media, and branding," she said.

Worcester stated that there is a high demand for pickleball teams, with over 60 groups showing interest. She stated that team values have increased exponentially since 2021, when the league was launched, and are now in the seven-figures.

The name of James Carter's team, and the location it will play, are not yet known. MLP teams are not currently linked to geographic locations. Worcester said that the league is working closely with owners to change that in 2023.

James has been instrumental in driving economic development in Akron, Ohio. The MLP season finale will be held in Columbus, Ohio from October 14-16. Students at the I Promise School, which he founded, are attending. The $319,000 purse at the season-ending tournament is the largest in the history of the sport.

Pickleball is described as a combination of tennis, ping-pong and badminton and has attracted significant investments from entrepreneurs looking to cash in on it.

MLP announced a second round of investments in July by Drew Brees, Super Bowl champion, entrepreneur Gary Vaynerchuk and Marc Lasry, Milwaukee Bucks coowners. They also included Ryan Serhant, Bravo's "Million Dollar Listing" star, and James Blake, former World No.4 tennis player.

MLP will expand from 12 to 16 teams with the new investments in 2023. Players will compete in six tournaments in six cities across the U.S. for more than $2,000,000 in prizes.

The sport is also attracting outside funding. In Sarasota, Florida, commercial real estate entrepreneurs Brian and Valerie McCarthy, have invested $180 million to build at least 15 indoor private pickleball clubs.

Others are also investing in the chain model that combines food, entertainment, and pickleball. "Camp Pickle," a restaurant, bar and indoor and outdoor pickleball courts will open in 10 locations across the nation by 2026. Similar concepts include Chicken N Pickle and Smash Park, as well as Electric Pickle.

Among the game's fans are Bill Gates, Kevin Durant and the Kardashians, with the sport growing to 4.8 million players in the U.S. in 2021, according to the 2022 Sports & Fitness Industry Association Single Sport Report on Pickleball.

Steve Kuhn (founder of MLP), stated in a statement that "pickleball is the fastest growing sport in the country, building community in cities and towns throughout the world."

He stated that the league's new investors and the exposure they provide will help it reach its goal to have 40 million pickleballers by 2030.

According to the MLP, there is no rule that would prohibit James from participating in the league. The league noted that Travis Rettenmaier (a former professional tennis player) is one of the owners and was drafted by his team.

Worcester laughed and said, "Yes, we would love LeBron, Draymond, or Kevin Love to think about play."