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3h ago

MLP’s Mad Drops Sell Majority Stake at $13 Million as Pickleball Team Values Climb

League officials cast the record prices as validation of MLP’s commercial trajectory.

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Ben Johns

Overview

  • The buyer is Mad Drippin SPV, a special purpose vehicle led by Alex Geesbreght, according to the league.
  • The prior ownership group will retain roughly 40% of the franchise, with minority owners including Drew Brees, Jayson Tatum, Josh Allen, Haley Jones and Zubin Mehta remaining involved.
  • The sale follows the Palm Beach Royals paying a $16 million expansion fee, setting the highest price yet for an MLP franchise slot.
  • The United Pickleball Association recently raised $15 million to boost player incentive pay, upgrade broadcasts and pursue international growth, reporting $70 million in revenue with sponsorships doubling and ticket sales up 28%.
  • Recent playoff coverage on ESPN2 averaged 81,000 viewers, and four teams including the Mad Drops are competing in New York this weekend to crown the 2025 champion.