Ballers is raising $10MM of co-investment capital

to open its next flagship club in Los Angeles.

For additional information, please contact: Richard Luftig – Managing Partner

rluftig@castleplacement.com | (212) 418-1181

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For important risk and disclaimer information, Click Here.

Industry

Recreational

Company Type

Sports Facilities

Size

$10 Million

Investment Type

Equity

OVERVIEW

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  • Ballers is the first hospitality-driven multisport venue designed to embrace the social aspects of sport and competition

 

  • Total estimated LA project cost: $15.9MM; investor equity $10.0MM; Ballers GP equity $4.1MM; $1.8MM landlord contribution

 

  • Strategic investors include high-profile athletes such as: Andre Agassi, Kim Clijsters, Sloane Stephens, and Tyrese Maxey

 

  • Capitalizing on the explosive growth of pickleball and padel, combined with the deeply established sports of golf, tennis, and field athletics, Ballers’ edge comes from its elevated design, diversified program, and scale

 

  • Flagship Philadelphia location opened September 2025 and serves as operational proof-of-concept; Boston Seaport location opened with a winter activation in December 2025 and will be fully operational in the spring

 

  • Los Angeles lease signed at The Bloc (~101k SF; 15-year term); Chicago LOI signed

OPPORTUNITY

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  • Global Wellness Economy projected to reach $8.5T by 2027 (57% growth)​

 

  • U.S. “Eatertainment” industry valued at ~$28B; projected 10.5% growth (2022–2027)​

 

  • Pickleball is America’s fastest-growing sport; 13.6MM U.S. players in 2023

 

  • Padel is cited as the fastest-growing sport globally, with projected 85k global courts by 2026​

 

  • Downtown LA market: 223K daytime population; 85.7MM annual visitors; strong premium club ecosystem (Equinox, Jonathan Club, LA Athletic Club)​

 

  • Referenced competitive landscape:​
    • Life Time ​
    • Equinox
    • Chelsea Piers ​
    • Padel Haus ​
    • Five Iron Golf ​
    • Soho House

SOLUTION/STRATEGY

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  • Multi-sport platform combining pickleball, padel, golf simulators, tennis, turf field athletics, F&B, and recovery amenities​

 

  • Hospitality-first design including rooftop bar, multiple lounges, pro shop, recovery suites, events spaces, and premium locker rooms

 

  • Diversified revenue streams: memberships, court time, corporate events, F&B, retail​

 

  • Expansion strategy targeting Top 30 MSAs; 3–5 openings annually beginning 2026​

 

  • Deal sourcing partnership with RUE Real Estate​

TRACTION/MILESTONES

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  • Philadelphia flagship approaching 600 members within four months of opening​

 

  • Hosted 2025 Philadelphia Eagles Ring Ceremony, demonstrating brand credibility​

 

  • Boston Seaport location opened December 2025; Chicago LOI signed​

 

  • Raised $25MM+ to date (including $16MM Series A OpCo; ~$8.5MM Philly SPV)

 

  • Strategic investors include high-profile athletes such as:

    • Andre Agassi
    • Kim Clijsters
    • Sloane Stephens
    • Tyrese Maxey

MANAGEMENT

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DAVID GUTSTADT

Founder & Chief Executive Officer

 

  • Hospitality and real estate executive with extensive experience across hotels, leisure, fitness, and real estate ​

 

  • Founded Filter Club in Philadelphia, an award-winning private lifestyle club that opened in 2019 and is widely regarded as one of the most comprehensive private members clubs globally

 

  • Co-founder and principal of Good City Studio ​

 

  • 27-year career in hospitality and over 15 years in finance and private equity, including roles at Goldman Sachs and Morgan Stanley ​

 

  • Played varsity tennis at Princeton and completed four Ironman competitions ​

 

  • Previously launched Equinox Hotels and led hospitality development for Related ​

AMANDA POTTER

Co Founder & Chief Creative Officer

 

  • Design and architecture professional with nearly two decades of experience spanning interiors, creative direction and branding, real estate, project management, and execution ​

 

  • Inspired by the collaboration to build Filter Club, founded Good City in 2020, serving as managing principal and creative director ​

 

  • Expertise includes hospitality design and development, with a focus on fitness, including seven years at Equinox and design work for the US Squash HQ​

 

  • Led design, creative, and project management for Filter Club ​

 

  • Enthusiastic tennis player and aspiring pickleball & squash player ​

SPECIFIC RISKS

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  • Limited operating history at full national scale; while initial flagship locations are operational, the broader multi-city rollout strategy remains in early-stage execution ​

 

  • Expansion and stabilization of new locations require significant upfront capital expenditures, and the Company is dependent on continued access to external financing to fund build-out and growth ​

 

  • The Company operates in competitive sectors including fitness, racquet sports, hospitality, and competitive socializing, where larger and better-capitalized operators may compete for prime real estate, talent, and customers ​

 

  • Revenue projections are dependent on achieving targeted utilization rates, membership growth, event bookings, and food & beverage performance, which may vary materially from projections ​

 

  • Long-term lease obligations expose the Company to fixed rent commitments and commercial real estate market risk, particularly in urban core locations ​

 

  • Industry growth in pickleball, padel, and competitive social sports, while currently strong, may moderate or experience demand volatility ​

 

  • The business is dependent on discretionary consumer spending, which may be adversely affected by economic downturns or shifts in consumer behavior ​

 

  • Private securities are speculative, illiquid, and carry a high degree of risk – including the loss of the entire investment ​
Learn More About Ballers

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CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement
1460 Broadway Street
New York, New York 10036
(212) 418-1180
kmargolis@castleplacement.com

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