Pro Padel League CEO Explains Business Of Rapidly Growing Sport

Summary

CNBC's Alex Sherman interviews Michael Dorfman, CEO of the Pro Padel League, about padel's rapid U.S. and global growth, rising franchise values, player compensation, and its new live-TV partnership with CNBC. Dorfman contends padel has an affluent, younger-skewing audience and that sports franchises and live experiences are scarce, non-automatable assets with long-term upside.

• Padel has over 35 million players globally and U.S. courts grew from under 50 in 2023 to over 1,000, with players passing one million.
• Spain is a key model where padel is the second most popular sport after soccer.
• The Pro Padel League runs 10 city-based franchises with men's and women's teams and F1-style points.
• Franchise values have risen from about $200,000 in 2023 to several double-digit million dollar marks.
• A new CNBC live broadcast partnership targets padel's affluent audience and builds exposure before direct media rights monetization.
• Dorfman is bullish on live sports because human experiences cannot be automated.
• Padel equipment and apparel is still early, with Nike and major footwear brands testing or considering padel shoes.