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35V, an investment company launched by NBA superstar Kevin Durant and business partner Rich Kleiman, announced the acquisition of a Major League Pickleball expansion team Thursday.
"[Pickleball] was a small passion that's just gonna keep building," Durant said. "We're gonna be operating this ourselves, being tasked with building this brand from the ground up. It should be a fun project."
MLP, which was founded by Steven Kuhn and Mellie Price, wrapped up its first season last November with BLQK crowned as the inaugural champions. The league has started to gain serious momentum with several high-profile investors in recent months.
Other athletes who've invested in MLP include the Los Angeles Lakers' LeBron James, Tampa Bay Buccaneers' Tom Brady, Golden State Warriors' Draymond Green and Cleveland Cavaliers' Kevin Love, per Mike Vorkunov of The Athletic.
The 35V expansion franchise will join the league in 2023.
"35V is committed to investing in the future of sports and emerging opportunities, and Major League Pickleball is a league we are incredibly excited about," Kleiman said. "We can't wait to build this team from the ground up as well as work to elevate the sport and the league to unprecedented heights. As an avid pickleball player and fan, the interest in the sport was a natural fit."
The group is also aiming to help the league improve its player relations, marketing, sponsorships and merchandise sales.
"Kevin Durant, Rich Kleiman and 35V are going to be game-changing partners for Major League Pickleball," Kuhn said. "They not only bring passion for the game, but also unrivaled expertise to help us to continue to grow. We're especially excited about their plans to bring pickleball to underserved communities—something they have done with basketball for years."
MLP is planning an expansion to 16 teams in 2023 (up from 12) while also increasing its schedule to six events (up from three) with a prize pool over $2 million for players.
35V's other sports-based investments include ownership stakes in the MLS' Philadelphia Union and NWSL's NJ/NY Gotham.
