Investing
Why a Hedge Fund Manager Is Betting on Pickleball With Tom Brady
Knighthead Capital Management co-founder Tom Wagner sees increased viewership and participation catapulting the sport’s value.
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Hedge fund manager Tom Wagner used to joke with friends about buying a pickleball team. Then, the opportunity came along — and he called up his old buddy, Tom Brady.
Knighthead Capital Management, the firm co-founded by Wagner that manages about $9 billion of assets, led an ownership group that includes the NFL superstar and former world No. 1 tennis player Kim Clijsters that purchased a team for the 2023 Major League Pickleball season.