LeBron James headlines new ownership group in Major League Pickleball, with Draymond Green and Kevin Love part of the investment team: Here are all the details
LeBron James' business portfolio gets more impressive every day. The LA Lakers forward became a billionaire this year, but he is not done yet.
According to ESPN, James and Maverick Carter have another interesting business venture. This time, the business partners have decided to invest in pickleball, which is the fastest-growing sport in the United States. Kevin Love and Draymond Green are a part of the team as well.
LRMR Ventures was founded in 2006 in Akron, Ohio, and is led by James and Carter. The company is headlining a new ownership group in a new professional league called Major League Pickleball.
This article will cover all the details regarding James' latest investment and everything you need to know about the fastest-growing sport in the country.
LeBron James and Maverick Carter invest in the fastest-growing sport
The latest investment by LeBron James and Maverick Carter seems like a win-win move for both the sport and the company. Pickleball has a lot of potential and could become a billion-dollar business in a few years, which is what makes this investment so interesting.
Major League Pickeball could drastically benefit from the investment. Steve Kuhn, its founder, spoke about LRMR Ventures and other companies investing in the new league:
"Having SC Holdings, LRMR Ventures, and their incredible group as owners and investors in Major League Pickleball is not just great for MLP. It's a watershed moment for pickleball in general."
At the moment, the league has 12 teams and 48 players in total.
The next big event for the league will be Pickle & Chill, which will begin on Oct. 14 in Columbus, Ohio. This is a three-day event that will feature some of the best pickleball players in the nation who will compete for a grand prize of $100,000.
LeBron James is part of Fenway Sports Group, an ownership group that has a stake in Liverpool Football Club and the Boston Red Sox.
What is pickleball?
Pickeball is a paddle sport that is a combination of tennis, ping pong and badminton. It can be played both inside and outside in either singles or doubles mode.
The sport was founded in 1965 and has had rapid growth in the past few years. With around five million active players, pickleball is the fastest-growing sport in the nation. LeBron James appears to have done his homework as he's made another great move.
Pickleball takes less of a toll on the body than tennis and doesn't require intense practice for players to get better at it. It's a perfect sport for beginners and may become one of the most popular professional sports at some point as well.
If more athletes keep investing, it won't be surprising to see it become one of the top leagues in the country.