Cision PR Newswire
Chaifetz Group Invests in The Picklr, Further Enhancing Commitment to its Pickleball Investment Portfolio, Anchored by St. Louis Shock MLP Team
CHICAGO, Oct. 4, 2024 /PRNewswire/ -- Chaifetz Group is pleased to announce a new strategic investment in The Picklr, North America's fastest-growing indoor pickleball franchise. This investment underscores Chaifetz Group's dedication to expanding access to the sport and enhancing the pickleball experience for both professional and recreational players nationwide.
Chaifetz Group ("CG") is the sole owner of the Major League Pickleball franchise, the St. Louis Shock, who currently sit in the #1 position of Major League Pickleball's ("MLP") standings with 38 points and an overall record of 14-4. Chaifetz Group also holds equity interests in United Pickleball Association ("UPA"), the parent company of the Professional Pickleball Association ("PPA") and MLP, as well as Dynamic Universal Pickleball Rating System ("DUPR"), and more. The Picklr investment furthers CG's commitment to pickleball and rounds out one of the most thorough private investment ecosystems in the sport.
The Picklr operates state-of-the-art indoor facilities designed to provide exceptional playing environments for pickleball enthusiasts of all skill levels, and is the fastest-growing pickleball franchise system in the world. The Picklr boasts the largest footprint of indoor pickleball franchises in North America, and seamlessly integrates modern facility design, technology and fun to create the best pickleball experience possible. With more than 350 state-of-the-art clubs sold nationwide, The Picklr currently has 16 locations open in the US with an additional 20 opening by the end 2024 and 100 opening in 2025.
As a part of the strategic investment, The Picklr will partner with the STL Shock on various brand awareness initiatives, further integrating MLP's top franchise with the world's fastest growing pickleball facility provider. The Shock will be designated by The Picklr as an "Official MLP Team Partner", and the Shock will prominently feature The Picklr through its social media, team uniforms, and other marketing tactics.
The investment will see Richard Chaifetz, Chairman of Chaifetz Group and the STL Shock, and Ross Chaifetz, Owner and General Manager of the Shock, participate on The Picklr's Board of Directors, bringing further expertise from the professional pickleball landscape to the most senior levels of The Picklr's leadership team, which is led by The Picklr Founder and CEO, Jorge Barragan.
"We are thrilled to welcome Chaifetz Group and the St. Louis Shock to The Picklr family," said Jorge Barragan, CEO of The Picklr. "Their passion for pickleball and experience across a broad range of professional sports assets will be instrumental as we continue to redefine the world's best pickleball experience. In just 18 short months since founding the franchise, the Chaifetz' have built the Shock into one of MLP's flagship teams, and we are pleased to have the confidence of their investment and partner with them on this journey."
"In the world's fastest-growing sport of pickleball, facility access remains the most important initiative to accelerate the game," said Ross Chaifetz, Owner and GM of the STL Shock and Managing Director at Chaifetz Group. "Our investment in Picklr reflects our belief that the company is providing the highest-quality, most unique player experience in the sport. The Picklr's facilities are world-class, and the rate of growth of The Picklr's franchise ecosystem puts them in a class above all other facility providers. We are ecstatic to announce this strategic investment and partnership between Chaifetz Group, the Shock, and The Picklr - who we believe to be the best facility concept in the sport of pickleball," he added.
For more information please visit www.chaifetzgroup.com, www.stlshock.com, www.thepicklr.com, or contact:
ABOUT CHAIFETZ GROUP
Chaifetz Group ("CG") is a private investment firm and single family office of Richard Chaifetz and his family. CG invests across a variety of asset classes including venture capital, private equity, real estate and sports.
Ross Chaifetz
Managing Director
Chaifetz Group
rosschaifetz@chaifetzgroup.com
ABOUT THE PICKLR:
The Picklr is North America's fastest-growing network of premium indoor pickleball courts, offering an unparalleled experience for players of all skill levels. With 375 state-of-the-art clubs sold nationwide, The Picklr provides programs for beginners to pros, and a vibrant atmosphere. Membership to The Picklr includes access to all club locations nationwide, free court reservations, four clinics per month, and unlimited participation in leagues, competitive play/events and tournaments. Follow The Picklr on Instagram, X, LinkedIn, Facebook, and TikTok for news on locations and tournaments, or visit https://thepicklr.com/franchise/ to learn more about owning a franchise.
Picklr Media Contact:
DKC News
picklr@dkcnews.com
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SOURCE The Picklr and Chaifetz Group
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