Major League Pickleball’s L.A. Mad Drops Changes Hands at $13 Million Valuation

Major League Pickleball’s Los Angeles Mad Drops have sold a controlling stake at a franchise valuation of $13 million to Mad Drippin SPV, LLC - led by Alex Geesbreght, owner and operator of PRAX Leadership - marking one of the largest transactions since the MLP/PPA merger in late 2024.

Mad Drippin SPV, LLC brings a diversified profile, featuring professionals from healthcare, pro sports ownership, oil & gas, real estate, and family office management - all with strong ties to the Greater Los Angeles area. Despite the change in majority ownership, the founding group - including Drew Brees, Jayson Tatum, Josh Allen, Haley Jones, and Zubin Mehta - will remain part of the ownership team, retaining continuity and star power.

This deal, alongside the recently announced Palm Beach Royals expansion franchise valued at $16 million, represents the two highest MLP franchise transactions since the MLP and PPA Tour merger. The timing underscores investor confidence in the burgeoning pickleball market and its franchise potential.

Other metrics highlight the momentum fuelling this valuation milestone: year-on-year growth across key business indicators - including more than doubling in sponsor revenue, a 28% increase in ticket income, a 277% surge in social-media impressions, a 156% rise in YouTube views, a 105% jump in total minutes viewed on PickleballTV, and an 83% increase in telecast hours across national and regional networks.

From an investment standpoint, this sale is a clear signal that pickleball has entered a new phase of maturity. The combination of celebrity ownership, robust audience engagement, and accelerating commercial metrics positions MLP franchises as clean, scalable growth opportunities. The entry of an investor group with multidisciplinary expertise and local alignment adds credibility and strategic bandwidth for future expansion and operational optimization.

However, investor scrutiny will rightly focus on how Mad Drippin SPV leverages its capital: operational execution, brand development, infrastructure investments, and community engagement will be critical to sustaining momentum and delivering long-term returns.

The sale of the L.A. Mad Drops at a $13 million valuation reflects both the explosive growth of pickleball and the growing sophistication of its investing landscape. With seasoned leadership at the helm and a growing fan base, Major League Pickleball appears poised to become a serious frontier for sports asset investors seeking high upside in emerging professional leagues.