PPL secures $15 million Series A funding

New investment round led by Rick Schnall, co-chairman and governor of NBA team Charlotte Hornets, is designed to fuel the next phase of the North American league's growth.

Author

Jonathan Dyson
March 27, 2026

The Pro Padel League (PPL) has announced the closing of a $15 million Series A funding round led by Rick Schnall, co-chairman and governor of NBA team Charlotte Hornets.

The North American professional padel circuit was founded in 2022 and launched in 2023 and today features ten teams across the US, Canada and Mexico.

The funding marks the PPL's second major investment in less than a year, following $10 million in seed funding received in March 2025.

Additional participants in the latest round included original PPL lead seed investor Left Lane Capital, a venture capital and growth equity firm that has made several investments in emerging sports leagues, among others.

The PPL says the new funding will be used to support the next phase of the league's growth, with a focus on team infrastructure, player development across all levels of the sport, and executing world-class PPL events throughout North America.

"Padel's growth continues to accelerate here in the US and globally," said Pro Padel League CEO Mike Dorfman. "We're grateful to Rick Schnall, Left Lane Capital, and all of our investors for believing in our vision for the PPL and the sport's long-term potential. This investment will help elevate our league, teams, and players, as we deliver world-class events featuring the best padel athletes in the world."

The funding marks the PPL's second major investment in less than a year. Image credit: PPL.

Schnall added: "Padel is one of the fastest-growing sports in the world, and the Pro Padel League is uniquely positioned to lead that continued expansion in the US.

“The PPL's momentum, world-class talent, and innovative team model create a powerful, scalable platform. We're excited to support PPL as it grows the sport, builds passionate fan communities, and establishes itself as a premier sports property."

The PPL says the funding builds on strong business momentum, following partnership announcements with watchmaker Frederique Constant and sporting goods brand Franklin Sports. 

Over the past year, several PPL franchises have been valued at more than $10 million. Notable investors in PPL teams include professional tennis player Francis Tiafoe and Ajax goalkeeper Maarten Paes (New York Atlantics), international polo star Nacho Figueras (Florida Goats), and chair of the Toronto Blue Jays baseball team and Maple Leaf Sports & Entertainment (MLSE) Edward Rogers (Toronto Polar Bears).

To further support player growth and development in North America, the PPL recently unveiled the PPL II, a new player development league designed to identify, support, and elevate the next generation of PPL players. The league, which debuted in March, will include more than $350,000 in guaranteed compensation and prize money.

The 2026 PPL season will feature five events across North America, with the first serve of the season set to take place on July 9th-12th in New York City, followed by events in Los Angeles (August 13th-16th), Playa del Carmen (September 24th-27th), and Guadalajara (November 19th-22nd). The City's Cup, the league's championship event, will be held on December 3rd-6th in Miami.

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