Tuesday 21 March 2023

US professional padel league Pro Padel League (PPL) has acquired the Las Vegas padel franchise, the next sports league to make Las Vegas home, the company said.

Terms of the transaction were not disclosed.

The transaction was led by Henry Strasser and Rick Belcastro. Joining the ownership group is Gavin Maloof, a successful American businessman, who has been named a Team Owner of the Las Vegas franchise.

Strasser is one of three Principals of Phantom Developments, a fifty-year-old real estate company that owns and manages commercial and industrial property and develops high-rise residential condominiums.

Co-founding the Las Vegas franchise with Strasser is Belcastro who held a highly decorated and successful executive career in the global private banking and hedge fund industry.

Belcastro retired in 2016 and continues to enjoy direct investing and consulting with ultra-high net worth friends and families.

The PPL's mission is to create a premier sports league providing a national stage for the sport.

The Pro Padel League is North America's first professional Padel Teams league.