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Tom Dundon Pours More Money Into Pickleball As He Cuts Blazers Spending
TL;DR
Tom Dundon has invested in Pickleball Inc. as part of a $225 million funding round, while reducing spending on the Portland Trail Blazers. Dundon is the primary majority shareholder of Pickleball Inc.
Key points
- Tom Dundon invested in Pickleball Inc.
- The investment totals $225 million.
- Dundon is the primary majority shareholder of Pickleball Inc.
- Apollo Sports Capital led the funding round.
- Dundon has interests in various pickleball-related businesses.
Mentioned in this story
Tom DundonPickleball Inc.Apollo Sports Capital
Professional Pickleball AssociationPortland Trail Blazers
After weeks of scrutiny, Tom Dundon is opening up his checkbook.
Just not necessarily for the Portland Trail Blazers.
On Friday, Pickleball Inc. announced that it has received a $225 million structured investment. Although Apollo Sports Capital led the funding, a source familiar with the matters tells Front Office Sports that Dundon contributed to the $225 million total.
Thatâs not necessarily a surprise, as Dundon is Pickleball Inc.âs primary majority shareholder. The Dallas-area business mogul has been a prominent figure in the pickleball world, with an empire that includes the Professional Pickleball Association (PPA), the Pickleball Central retail website, and PickleballTournaments.com software.
The $225 million investment bolsters the portfolio of Dundonâs Pickleball Inc., which now serves as the parent company of both the PPA and Major League Pickleball. It also brings another NBA presence into the fold, as 76ers owner Josh Harris is the co-founder of Apollo Global Management.
But while Dundonâs presence in pickleball has already been well established, the timing of the transaction could be noteworthy to NBA fansâparticularly in Portland.
In the weeks since his purchase of the Trail Blazers from Paul Allenâs estate became official, Dundon has raised red flags with his spending (or lack thereof). Nicknamed âEl Cheapoâ by The Ringerâs Bill Simmons, the 54-year-old billionaire has been criticized for a series of cost-cutting measures. Such headlines have included the Blazers , Dundon ensuring the team at its hotel, and not gifting fans at Portlandâs home playoff games with customary free t-shirts.
Q&A
How much did Tom Dundon invest in Pickleball Inc.?
Tom Dundon contributed to a $225 million investment in Pickleball Inc.
What is Tom Dundon's role in the pickleball industry?
Tom Dundon is the primary majority shareholder of Pickleball Inc. and has interests in the Professional Pickleball Association and other related businesses.
Why is Tom Dundon cutting spending on the Portland Trail Blazers?
The article does not specify the reasons for Dundon's reduced spending on the Portland Trail Blazers.
Who led the funding round for Pickleball Inc.?
Apollo Sports Capital led the $225 million funding round for Pickleball Inc.