The sport of padel continues to gain traction in the United States, receiving a significant boost with a $15 million investment led by Rick Schnall, co-chairman and governor of the NBA’s Charlotte Hornets. This substantial financial injection into the Pro Padel League (PPL) signals growing investor confidence in the burgeoning sport and its potential within the American market.
Record Investment for the Pro Padel League
Padel is taking a major step forward in its North American development. Rick Schnall, the Hornets’ co-owner, spearheaded the $15 million Series A funding round for the Pro Padel League, marking the largest fundraising event in the league’s history. The investment, first reported by The Athletic, demonstrates a clear shift in perception – padel is no longer viewed as a fleeting trend but as a structured and growing sports market.
The funding round also included participation from Left Lane Capital, which previously led the PPL’s seed funding, along with new investors Andrew Schwartzberg, Vice Chairman of Leeds United, and Jason Tillis, CEO of Imperial Dade – both of whom are also part of the Hornets ownership group. This diverse group of investors highlights the expanding appeal of padel beyond its traditional base.
High-Profile Figures Embrace Padel
Interest in the Pro Padel League extends beyond financial backing. Several prominent figures from the entertainment and sports worlds have also become involved. Notably, Latin music icon Daddy Yankee, along with professional tennis players Frances Tiafoe and Tommy Haas, have all invested in the league, according to reports. This involvement of recognizable ambassadors is designed to broaden padel’s visibility within the United States, leveraging their reach to introduce the sport to new audiences.
Ambitious Growth Targets for the US Market
Projections for the American padel market are ambitious. Industry forecasts suggest the potential for 20,000 padel courts and nearly 8 million players in the US by 2030. Achieving this would position the country as a major player in the global padel landscape. However, padel faces competition from other rapidly growing racquet sports, most notably pickleball, which has experienced a surge in popularity in recent years.
Despite this competition, padel possesses several advantages. The sport fosters a strong social element, offers a dynamic and accessible gameplay experience, and benefits from an increasingly professional structure. The PPL is actively working to capitalize on these strengths to establish a firm foothold in the US market.
Miami as a Launchpad for US Expansion
Florida, and specifically Miami, is currently at the forefront of padel’s growth in the United States. Miami has emerged as a key hub for the sport, hosting the Miami P1, a stop on the Premier Padel circuit. Alongside Premier Padel events, competitions like the Pro Padel League and the Reserve Cup are contributing to the development and professionalization of padel within the region.
The PPL plans to leverage this momentum to expand its model to other major American cities, including New York, Chicago, and Los Angeles. The league intends to use the new capital to scale its event calendar – aiming to host five events in 2026 and eventually expand to a number that fully supports its athletes – and to build out its developmental league, PPL II. PPL II hosted its first event at the Miami Open tennis tournament last week, offering over $350,000 in guaranteed compensation and prize money.
According to PPL CEO Mike Dorfman, Schnall’s involvement will be invaluable, bringing expertise in structuring emerging properties and leveraging a broad network for media rights and partnerships. Schnall will join the league’s board alongside Dorfman, representatives from Left Lane Capital, and PPL team owners.
Schnall himself believes padel has the potential to become a compelling media property, particularly when compared to pickleball. “It’s essentially a bet on two factors: the growth of the sport as a participant activity and the potential for a valuable media property,” Schnall told The Athletic. He added that successful startup leagues typically need to become attractive media assets to scale, and he sees padel as having that potential.
The investment comes on the heels of a $10 million seed round raised in 2025, demonstrating continued confidence in the league’s trajectory. The Pro Padel League is clearly positioning itself to capitalize on the growing global interest in padel and establish a strong presence in the US market.
The league’s success will depend on its ability to attract players, build a dedicated fan base, and secure valuable media partnerships. With the backing of a prominent NBA owner and a growing roster of investors, the Pro Padel League appears well-positioned to achieve its ambitious goals.
The next key event for the Pro Padel League will be the continued rollout of PPL II events throughout the spring and summer of 2026, providing a platform for emerging North American talent. Fans and industry observers will be closely watching to witness how the league utilizes its new funding to accelerate the growth of padel in the United States.
What are your thoughts on this investment? Will padel become a major sport in the US? Share your opinions in the comments below.
