Apollo Sports Capital bets $225M on pickleball

The signal: The $225 million commitment underscores a growing appetite among alternative asset managers and seasoned sports owners to deploy capital beyond traditional major league franchises, where sky-high valuations have narrowed return potential. Pickleball's bet mirrors the playbook that proved lucrative in MLS and women's sports — back an emerging property early, build infrastructure, and capture enterprise value as media rights and sponsorship markets mature.

Read more: CNBC