Overview
- The Pro Padel League, which announced the deal Tuesday, secured a $15 million Series A led by Charlotte Hornets co-chair Rick Schnall with Left Lane Capital participating.
- The round values the league at roughly 10 times last year’s $10 million seed, according to CEO Mike Dorfman, and several franchises have topped $10 million with new team investors such as Edward Rogers, Frances Tiafoe, Maarten Paes and Nacho Figueras.
- The league says the funds will expand its front office, build infrastructure and create a full calendar of events that can serve as a primary source of income for players.
- The 2026 season starts in July with 10 teams and five events, with a plan to reach 10 events in 2027 and eventually 15 to 20 each year.
- Backers are betting on rapid U.S. growth as courts rose from fewer than 30 in 2020 to about 1,000 today, with the United States Padel Association projecting 20,000 by 2030.