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Major League Pickleball Team Values Skyrocket to $10 Million

Jul 7, 2023

Teams in Major League Pickleball are valued as high as $10 million, according to the league’s new CEO Julio DePietro.

DePietro, who bought a stake in the Florida Smash MLP team in 2022, was announced as the league’s new CEO on Wednesday. He told CNBC that MLP team valuations had seen 100-times growth, soaring to $10 million valuations after being acquired for as low as $100,000 since the league began play in 2021.

The value surge could result in profits for many athletes with ownership stakes in MLP teams. Team co-owners include NFL greats Tom Brady, Drew Brees, Larry Fitzgerald, Josh Allen, and Patrick Mahomes, NBA stars LeBron James, Kevin Durant, Jayson Tatum, and Devin Booker, Olympic swimmer Michael Phelps, the WNBA’s Jewell Loyd and Haley Jones, MLB pitcher Justin Verlander, and tennis stars Naomi Osaka and Nick Kyrgios.

Source: Front Office Sports

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