Home / Sports / Hornets Governor Bets Big on Growing Padel Sport
Hornets Governor Bets Big on Growing Padel Sport
24 Mar
Summary
- Rick Schnall led a $15 million Series A funding round for the Pro Padel League.
- The league plans to invest in infrastructure and player development.
- Padel has approximately 35 million players globally and is rapidly growing in the US.
The Pro Padel League (PPL) has secured a substantial $15 million in Series A funding, led by Charlotte Hornets executive Rick Schnall. This significant investment marks a pivotal moment for the emerging North American league as it aims to expand its presence.
The new capital will fuel investments in crucial areas such as team infrastructure and player development initiatives. A key initiative includes the launch of PPL II, a developmental circuit designed to nurture North American talent by offering over $350,000 in guaranteed compensation and prize money.
Schnall highlighted the sport's timing and structure as key factors for his investment. Padel's global participation is booming, and the U.S. market presents a prime opportunity for a team-based league to establish dominance. He also sees considerable broadcast potential for the sport.
This investment round saw participation from Left Lane Capital and new investors Andrew Schwartzberg and Jason Tillis. The PPL had previously raised $10 million in 2025, indicating a steady growth trajectory. Franchise valuations have also surged, with some now exceeding $10 million.
Commercial traction is also evident through partnerships with Frédérique Constant and Franklin Sports. Globally, padel boasts approximately 35 million players. Projections estimate 20,000 courts and 15 million players in the U.S. by 2030. The 2026 season is set to commence on July 9 in New York.
