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June 27, 2024

Marc Lasry’s Avenue Sports Fund Invests in New York’s CityPickle


The pickleball craze isn’t slowing down. Marc Lasry’s Avenue Sports Fund has purchased a minority stake in CityPickle, a New York-based court operator.

Founded in 2021, the company now aims to expand beyond New York, building pickleball clubs that include courts, full bars and restaurants.

CityPickle recently signed a three-year deal to extend its pickleball courts on Wollman Rink in Central Park during the off-season. It’s unclear how much Avenue Sports Fund is investing. A spokesman declined to comment.

Lasry, who sold his 25% stake in the Milwaukee Bucks last year, is a significant backer of pickleball. He invested in his own franchise for $100,000 in 2021, and told Bloomberg valuation hit $10 million in 2023.

Avenue Sports Fund focuses on buying into teams and leagues across the globe. It raised about $445.1 million, according to company filings.

“We see a real opportunity to bring dedicated Pickleball courts to New York,” CityPickle’s co-founder Mary Cannon said in a phone interview. “The capital from Avenue will most definitely help us build more courts in NYC and in other cities across the country.”

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