(Bloomberg) -- 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. 

Pro Pickleball’s Woes Won’t Dent the Sport: Bobby Ghosh

Lasry, who sold his 25% stake in the Milwaukee Bucks last year, had previously invested in a pickleball franchise.

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.”

Sign up for Bloomberg’s Business of Sports newsletter for the context you need on the collision of power, money and sports. 

(Updates pickleball ownership in fourth paragraph.)

©2024 Bloomberg L.P.