Today, the Pro Padel League (PPL) – North America’s first professional Padel league – is excited to announce the acquisition of the Las Vegas franchise 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 is the next major sports league to make Las Vegas home. Over the last five years, Las Vegas has welcomed several professional sports teams including the NHL’s Las Vegas Golden Knights (2017), the WNBA’s Las Vegas Aces (2018), and the NFL’s Las Vegas Raiders (2020.) In addition, Las Vegas will host the inaugural Formula One Las Vegas Grand Prix in November of 2023 and, in 2024, will host the Super Bowl followed by the NCAA Final Four in 2028.
“Las Vegas is a premier location for the League to expand their presence with the Las Vegas team and grow the Padel community in the U.S.,” said Marcos Del Pilar, PPL League Commissioner. “Padel is the next major sport to be a part of the city’s explosive growth of professional sports.”
Maloof, a member of the prominent Maloof family from Las Vegas, is known for his family’s longstanding business success in the United States beginning with the distribution rights for Coors Brewing in the 1930s. Following this, Maloof and his family were owners of the National Basketball Association (NBA) team the Houston Rockets from 1979-1982 with the Rockets making the NBA Finals in 1981. Additionally, they were owners of the Sacramento Kings NBA team from 1998-2013 and are currently minority owners of the National Hockey League (NHL) team the Vegas Golden Knights who made it to the Stanley Cup Final in their premiere season (2018). In 2008, Maloof founded the Maloof Money Cup with his brother Joe Maloof for both professional and amateur skateboarders.
“The ownership group is excited to bring the PPL and Padel to Vegas to players and fans who live in the area or are visiting,” commented Henry Strasser, Owner of the Las Vegas Franchise. “We are proud to welcome Gavin Maloof to the Las Vegas team and to have a businessman of his stature, and with his extensive experience in professional sports, be a part of our team.”
In Las Vegas, the Maloof family opened two casinos – the Palms Casino Resort and Fiesto Rancho – and created American entertainment development and production company Maloof Productions that is best known for producing Living Lohan, a primetime reality series that aired on E! in 2008.
“I am excited to be a part of the Las Vegas franchise ownership group with Henry Strasser and be involved in the explosive growth of Padel in the U.S. from the ground level,” said Gavin Maloof, Owner of the Las Vegas franchise. “Padel is on fire right now, and I believe in the success of the sport in North America with the League having world class Padel players competing this season.”
The PPL’s first Player Draft will take place on March 20th at 1:00 p.m. EST and will be livestreamed via YouTube, Facebook and Instagram for players and fans to watch in real time. A historical milestone for the League, the PPL received approximately 500 hundred applications from top North American and international players from Australia, Asia, South America, the United Kingdom, and Europe.
The PPL’s inaugural season will kick-off in May of 2023 with seven teams and conclude with the PPL CUP in June of 2023 where the four best teams will compete for the title.