Billionaire NBA owner invests in pickleball

Billionaire NBA owner invests in pickleball

June 22, 2026

Billionaire NBA owner makes landmark investment in pickleball as part of next phase for growing sport
Billionaire businessman Tom Dundon, who owns the NHL's Carolina Hurricanes and NBA's Portland Trail Blazers, has led a funding round through Apollo Sports Capital to raise $225 million for Pickleball Inc. This massive injection of capital boosts the holding company's valuation to a staggering $750 million as it seeks to professionalize and capitalize on the sport's explosive growth of 25 million players over the last five years. While a portion of the raised funds will go toward restructuring debt and delivering returns to existing shareholders, $100 million remains directly earmarked to fuel future sport expansion.
^{The Sun}

Maryland to match $85 million offer to keep Preakness rights
Maryland Governor Wes Moore announced that the state will exercise its right of first refusal to match Churchill Downs Incorporated's $85 million offer to buy the intellectual property of the Preakness Stakes and the Black-Eyed Susan Stakes. Instead of using general fund tax dollars, the state will fund the acquisition through a tax-exempt revenue bond issuance that will be paid back by revenue generated from the races. This strategic move aims to secure a vital historical asset for Maryland while the traditional home of the races, Pimlico Race Course, undergoes a massive reconstruction project.
^ESPN

UTA Bows Out of The Team Acquisition; Bidding Continues
United Talent Agency (UTA) and its private equity partner EQT have dropped out of the bidding process to acquire the sports and entertainment agency The Team, formerly known as Wasserman. The exit stems from a disagreement over the acquisition price, alongside friction regarding non-compete and non-solicitation demands from founder Casey Wasserman. Despite UTA's departure, several prominent contenders remain in the running, with the final sale decision resting on Wasserman and majority owner Providence.
^Wunderfan

Apple removes F1 paywall for Austrian GP in pursuit of wider US audience
Apple is removing its paywall to make the upcoming Formula One Austrian Grand Prix entirely free for US viewers who have an Apple ID and the Apple TV app. This move is part of an ongoing strategy to attract a wider US audience and convert casual fans after acquiring the F1 broadcast rights this season for a reported $150 million per year. While Apple claims its viewership is comparable to F1's previous era on ESPN, critics argue that moving away from linear cable has limited the sport's overall exposure.
^Blackbook

MLB proposes Domestic and International Drafts to Players Association
Major League Baseball has proposed a new collective bargaining framework to the MLB Players Association featuring separate 12-round Domestic and International Drafts, each utilizing identical $200 million signing bonus pools. The domestic proposal aims to shift focus toward college-developed talent by setting a minimum draft age of 20 and making high schoolers ineligible, while the international plan raises the signing age to 18 to combat systemic corruption and keep prospects in school longer. In response, the MLBPA strongly rejected the proposals, arguing that the changes would eliminate over a billion dollars in player compensation and destroy fundamental player rights.
^MLB

PWHL's Charge staying in Ottawa after reaching deal to play in NHL Senators' arena, AP sources say
The PWHL's Ottawa Charge have reached an agreement to play at the Canadian Tire Centre, the home of the NHL's Ottawa Senators, starting next season. The relocation to the suburbs was prompted by upcoming renovations at their former home, TD Place, which would significantly decrease seating capacity and make staying financially unfeasible due to high fan demand. This deal, which is expected to be finalized in the coming weeks, ensures the franchise remains in Canada's capital after averaging over 13,000 fans per playoff game at the Senators' arena last season.
^{Fox Sports}

New PGA of America CEO Terry Clark embraces opportunity for change
Terry Clark took over as CEO of the PGA of America on March 2, 2026, stepping into the role during a period of executive turnover and organizational turmoil. Bringing a unique perspective from his previous role as chief marketing officer at UnitedHealth Group, Clark aims to stabilize and advance the organization while maintaining its 110-year tradition. His initial 100 days have focused heavily on listening, learning, and aligning priorities around supporting golf professionals, growing the game, and optimizing upcoming major championships.
^{Sports Business Journal}

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How JuJu Watkins used her GM skills to recruit Saniyah Hall to USC: 'I was in her ear about committing'
USC women's basketball star JuJu Watkins utilized her role as a coach at the Overtime Takeover showcase to actively recruit elite high school prospect Saniyah Hall to join the Trojans. Hall, the No. 2 ranked player in the class of 2026 and a FIBA U19 World Cup MVP, ultimately committed to USC and is set to share the court with Watkins this upcoming fall. Beyond her recruiting efforts, Watkins has also taken on a mentorship role for other top freshmen like Jazzy Davidson, advising them on how to navigate high expectations and maintain their love for the game.
^{CBS Sports}

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