MW Nike finally gets involved in one of the fastest-growing global sports. Is it too late?

By Weston Blasi

Nike signed No. 1-ranked pickleball player Anna Leigh Waters to its roster of sponsored athletes

Can pickleball help reverse Nike's struggling stock?

Nike is finally getting into the pickleball game - but is it too little, too late?

Nike's $(NKE)$ wait-and-see approach to the fast-growing paddle sport that blends tennis, badminton and ping-pong is changing, after the company made No. 1-ranked pickleball player Anna Leigh Waters the first professional pickleball player to join its roster of sponsored athletes earlier this week. Waters will serve as a global pickleball ambassador for the sports-apparel giant.

It was seemingly only a matter of time. In fact, with pickleball's recent explosive growth, customers have been wondering why such a leader in global athletics apparel had yet to make any meaningful moves in the pickleball space. And among the biggest questions now is whether it's already too late for Nike to get involved.

Nike was not immediately available for comment. But Lisa Delpy Neirotti, the director of the sports-management program at George Washington University's School of Business, told MarketWatch that the time is still ripe for Nike to make a pickleball play. "They need to get into the business, because other people are already in the business," she said. "I can't believe how much money people are spending on pickleball."

Picking up the paddle sport provides all sorts of opportunities for new players to spend money, which is good news for athletic brands. "It's not only the fashion, it's the shoes," said Neirotti, meaning the sneakers tailored to making quick direction changes on the court. "The more they play the sport, the more they have to buy the equipment."

'I can't believe how much money people are spending on pickleball.'Lisa Delpy Neirotti, director of the sports-management program at George Washington University's School of Business

The pickleball-equipment market alone was valued at $1.61 billion in 2024, and is projected to grow to $3.1 billion by 2031, per Meticulous Research. Some 48.3 million Americans played pickleball at least once in 2024, and those numbers are expected to continue to increase. In the U.S., there are 68,458 known pickleball courts, with 18,455 of them added in 2024 alone.

Other big players in the pickleball space include Skechers and Fila, who also sponsor individual pickleball athletes. Until this week, the 18-year-old Waters was actually a Fila athlete and sported their gear during tournaments. Skechers, meanwhile, invested early in pickleball and became the official sponsor of the U.S. Open Pickleball Championships, as well as the official footwear company for pickleball events including the APP Tour, USA Pickleball and Major League Pickleball back in 2022.

Related: As pickleball players spend billions on the sport, they run into conflicts and controversy

Pickleball could be a way for Nike to keep growing its female fanbase, in particular. "They are capturing the women's audience," Neirotti said. "It's a new sport, and [Nike has] to be there. They would be losing out if they don't embrace a popular sport that gets tons of people fit."

Nike's sponsorship deal with Waters could also signal future investments in the growing sport - which could be good news for investors who have watched the sports giant's stock struggle over the past several years.

Shares of Nike are down 9.2% over the last 12 months, and down 55% over the last five years. Nike CEO Elliot Hill said the company is in the "middle innings" of a turnaround plan on its latest earnings call. Under Hill's leadership, Nike has been trying to focus more on the needs of athletes.

Read more: Nike says turnaround plans are 'in the middle innings,' but investor worries remain

The company cited a recent rebound in sales in North America, but admitted parts of its international business continue to struggle. Nike's second-quarter revenue declined 16% in greater China and dropped 4% in Asia-Pacific and Latin America, the company reported in its latest earnings. Barclays analyst Adrienne Yih maintained her neutral rating on Nike's stock on Thursday, per MarketScreener, with a price target set at $64.

But Neirotti believes that pickleball's global influence could pay dividends for Nike overseas. "Pickleball is growing everywhere," she said. "Areas in Vietnam have pickleball courts all over the place. China is growing because their badminton courts can fit pickleball too."

However, Nike's pickleball push is still in its early stages; the "pickleball" category on its website currently shows products from its existing "Nike Court" tennis line, and only features two products with a pickleball-specific description.

See: Nike needs more than Tim Cook to rescue its stock, with turnaround taking 'longer than expected'

Sponsoring rising stars like Waters is a familiar strategy for the brand. Nike has a long history of signing world-renowned athletes as youngsters - and many of those early bets paid off as those athletes went on to have great careers for years to come. The company signed the likes of Michael Jordan, LeBron James, Tiger Woods, Roger Federer and Rafael Nadal early on, and saw those athletes grow with the company and become superstars over the years.

Waters said she hopes to follow in the footsteps of those sports legends. Growing up, I watched my idols wear the Swoosh in their biggest moments, so joining the Nike family is a dream realized," she said in a statement announcing her move away from Fila. "Nike is the gold standard in performance, and I can't wait to step onto the court representing a brand that believes in the same relentless pursuit of greatness that drives me every day."

Read on: Nike beats on earnings, but warns the toughest stretch of its turnaround is ahead

-Weston Blasi

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January 17, 2026 09:00 ET (14:00 GMT)

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