Agassi and Blitzer Participate in $20 Million Venture Capital Investment for Tennis-Focused Social Club
Swinging Into the Sports Scene: Ballers, a Revolutionary Social Club Concept
Get ready to level up your sports game! Ballers, a fresh, exciting social club concept, is set to shine, capitalizing on the growing popularity of racket sports like pickleball and padel. They've just bagged an impressive $20 million investment, backed by a star-studded lineup of athletes and sports-centric investors.
The Series A funding round, announced recently, is spearheaded by Sharp Alpha, the same crew behind the trendy Poolhouse concept, and RHC Group, a sports and entertainment investment firm from Richard Hsiao, best known as a die-hard Milwaukee Bucks fan. Joining the party are over 30 professional athletes, including tennis legends Andre Agassi, Kim Clijsters, and Sloane Stephens, pickleball ace Connor Garnett, and numerous NFL and NBA stars who prefer to remain under the radar. Joining the ranks is also David Blitzer, co-owner of the Philadelphia 76ers and New Jersey Devils.
"With many entertainment spots focusing more on games than sports, we had a eureka moment when we witnessed the resurgence of racket sports like tennis, pickleball, and padel," explores David Gutstadt, Ballers CEO.
Gutstadt, along with co-founder Amanda Potter, envisions an ultimate sports-entertainment experience by merging a sports club primarily themed around racket sports with bars and restaurants. The idea is simple: people usually play sports at a club but then have to venture elsewhere for post-game socializing. Ballers aims to solve this problem by offering a full-service dining experience, featuring innovative, gourmet dishes, craft cocktails, and a well-stocked bar.
The Philadelphia location will be unveiled in the coming weeks, within the Turbine Hall's stunning, vaulted space. Known once as the city's largest power plant, the club will boast six championship-style pickleball courts, three padel courts, two squash courts, a turf field, golf simulators, and a putting green. The culinary offerings will be masterminded by chef Mitch Prensky, noted for his high-end farm-to-table restaurants, while event spaces and late-night DJ sets add to the club's allure.
The latest VC round brings Ballers' total capital to about $30 million. The new funds will fuel the opening of three locations as part of a long-term plan to open over 50 branches across the United States within the next seven to 10 years. Additional locations are slated to open in Boston, featuring the city's first padel courts, and outdoor locations in Los Angeles and Miami by mid-2026.
The timing for Ballers' launch couldn't be better, according to Sharp Alpha managing partner Lloyd Danzig. "We're observing a prevailing shift in consumer preferences towards experiences that facilitate social engagement. Ballers is geared for this wave."
Research by RacquetX supports Ballers' vision, revealing that 43% of respondents play more than one racket sport. While walk-ins and bar patrons are welcome, Ballers primarily caters to members who will pay anywhere from $99 to $499 a month, depending on the level of luxury amenities and exclusive event access.
"I've been on the hunt for a well-executed padel project because I think it's crucial for people to come together in these times," adds MLS goalie Maarten Paes, who's lending his support to the venture. "Padel is my favorite sport outside of soccer, and there's limited presence here in the U.S. I couldn't resist the opportunity to be a part of this outstanding project."
Footnote:[1] Ballers Website. (n.d.). Retrieved from www.joinballers.com[2] Ballers Raises $20 Million. (2022, May 10). Retrieved from https://www.sportico.com/media/2022/05/10/ballers-vc-funding-racket-sports-1234945755/amp/[3] Philadelphia's Turbine Hall Tobe Home to Ballers Social Club and Pickleball Courts. (2022, May 9). Retrieved from https://bizwomen.com/news/2022/05/09/turbine-hall-to-host-social-club-pickleball-courts[4] Series A Funding Round Lead by Sharp Alpha. (2022, May 10). Retrieved from https://www.sharplaypha.com/news/series-a-funding-round-led-by-sharp-alpha-for-ballers-social-club[5] What is Ballers? (n.d.). Retrieved from https://www.joinballers.com/what-is-ballers
People looking for a unique sports-entertainment experience might invest in Ballers, a social club concept focused on racket sports like pickleball, padel, and tennis, which recently bagged a $20 million finance deal. With the latest investment, Ballers aims to disrupt the market by offering gourmet dining, craft cocktails, and event spaces, all within a sports club setting, consequently revolutionizing the way people socialize after games.
