Pickleball, a paddle sport with a whimsical name, is becoming big business

When brothers Rob and Mike Barnes founded a paddle-maker, they encountered a lot of skepticism.

People would say "What is that?" when we mentioned the word "pickleball".

The sport's name evokes an image of a game played by retirees in Florida. The paddle sport is America's fastest-growing sport and is attracting major interest and financial investments.

It's so easy to learn, and you can go out there with your family and still enjoy it. We think that the growth of this sport is due to the fact that people are having an addiction to it.

One of the new sport's top equipment makers is co-CEOs of two brothers from Idaho. They recently signed a deal with a big-box retailer to sell their gear.

Rob Barnes said it was exciting to see them invest in the sport.

According to the Sports and Fitness Industry Association's Topline Participation Report, there were over five million players in the U.S. last year. Growth was fastest among young players from 2020 to 2021, with participation rising 21%.

The new craze is hard to miss. pickleball courts are being converted into tennis courts. The sound that a pickleball makes when it hits a paddle is driving people crazy. The Tennis Channel, CBS and Fox Sports show pickleball matches. Retailers are signing athletes to represent their brands.

Professional pickleball is drawing big names and has expanded across the country. Lasry and Vaynerchuk both invested in Major League Pickleball. Carolina Hurricanes owner and private equity investor Tom Dundon recently purchased the Pro Pickleball Association.

Lasry told Sports Business Journal that he will be shocked by where the sport is five years from now.

The players include former athletes from other sports like tennis player and billionaires, like Melinda Gates and Leonardo DiCaprio, as well as celebrities.

During the Pandemic, playing pickleball offered a way to get some fresh air and meet people in a new community at a time when it was difficult to do. People of all ages are drawn to the sport. The club champion where I play is a 75-year-old who reminds me of how much work I still have to do.

Women are arriving at the sport at a faster rate than men, according to statistics provided by SFIA. The average age of players dropped to 38.1 years of age last year from 41 in 2020.

Its sudden popularity has led to a 30% to 40% increase in sales at the largest pickleball retailer in the U.S. Barnes-owned Selkirk is on track to sell a million paddles by the end of the year. The company has tripled in size since 2020.

Mike Barnes said that the Pandemic was good to the industry.

The wave has washed up on foreign shores.

One of the co-founders of the Minto US Open Pickleball Championship saw a business opportunity in the sport's early days. She and her business partner quit their jobs at Wilson Sporting Goods in 2015.

She said that she realized there was about to be a huge explosion.

They started the biggest pickleball tournament and party in the world in Naples, Florida. They helped turn East Naples Community Park into a mecca for pickleball.

The tournament began on Friday and will run for nearly a week. There are almost 3,000 players who will compete for $100,000 in prize money.

The championship will be shown on CBS in front of 25,000 spectators. Graham says the tournament has more than 40 sponsors and contributes more than $9 million to the local Naples economy, with people flying to the event from all over the world.

Graham said that getting into pickleball was the best move they have made in their lives.

Life Time, a health club with more than 160 locations in 41 markets, is adding courts and getting in on the ground floor of tournament play.

Life Time has added 84 permanent courts at 30 clubs. He said that 7,000 new players joined Life Time clubs last month.

Akradi says he plays the sport daily and that he plans to make big investments in the sport for the company he founded nearly 30 years ago.

I love the sport because it is the first sport that brings all of America together. It is easy to learn and accessible to everyone.

The health clubs hold tournaments. In February, Life Time hosted more than 700 players.

Akradi says he is only getting started.

By the end of next year, our plan is to deliver 600 to 700 dedicated pickleball courts across the country. He said the company will invest up to $75 million and build out additional courts by the end of the year.

He said that he has seen all kinds of stuff come and go in his 40-plus years doing sports fitness. It's easier and it's more broad. There is no reason for people not to be able to do it.