Sportime Secures $144 Million in Financing to Expand Premier Sports Facilities Across New York Tri-State Area

Funding will support Sportime’s expansion, as the company adds tennis, pickleball and multi-sport centers, enhancing recreational & competitive sports programs

NEW YORK, NY, UNITED STATES, January 8, 2025 /EINPresswire.com/ -- Sportime, a leading owner and operator of tennis and sports clubs across the New York Tri-State area, has successfully raised $144 million in debt financing from Comvest Credit Partners (“Comvest Credit”). This capital will be used to refinance existing debt and to fuel the development of two new state-of-the-art facilities: a 20-court tennis and pickleball club in Greenburgh, NY, and a large golf, turf sports, and children’s camp facility in NYC.

This funding marks a new phase of growth for Sportime and will enable the company to grow its brands, as it expands its footprint to New Jersey, Connecticut and beyond. Sportime’s increased capacity will meet growing demand and support a diverse community of recreational and competitive athletes.

Investment bank, Cascadia Capital, facilitated Sportime’s partnership with Comvest Credit. Cascadia managed due diligence and negotiation processes between the parties, and consulted on a financing structure aligned with Sportime’s long-term goals.

Founded in 1994, Sportime has grown into a key player in the tennis and sports industry. Sportime’s 17 locations offer 192 indoor and outdoor tennis courts, in hard and soft surfaces, 93 pickleball courts, and a variety of sports and fitness facilities. Sportime is known for its cutting edge instructional and competitive programming, including the market leading and world-renowned John McEnroe Tennis Academy and the Sportime Volleyball Club.

“We are very excited to have partnered with Comvest at this critical moment of growth and opportunity at Sportime,” explained Claude Okin, President and CEO of Sportime. “Comvest understands where we are going, and they share and support our vision. This relationship will enable Sportime to expand our geography and to continually upgrade our facilities and programming to better serve our players and community members. We look forward to achieving great things, as we strive to meet the increasing demand for recreational and competitive racket and paddle sports, and much more.”

Nick McClelland, Managing Director and Co-Head of Consumer and Retail at Comvest Credit, said, “We are pleased to support Sportime’s continued growth and success. Sportime has a track record of excellence in tennis and sports programming, and as a leader in its markets. We hope that Comvest Credit’s support will allow the Sportime management team to take the company’s success to a new level.”

About Sportime

Since 1994, Sportime has been proud to operate the finest tennis and sports facilities in New York State. Sportime’s 17 club locations most recently expanded to include the iconic Port Washington Tennis Academy, now Sportime Port Washington. Sportime currently offers 192 indoor and outdoor tennis courts and 93 pickleball courts, as well as rinks, turf, camps, gyms and more, at sites across Long Island, in NYC, in Westchester and in the NY Capital Region and in New Jersey. Sportime clubs are state-of-the-art, yet affordable, and feature the best tennis, pickleball, sports and camp facilities and programs, including the John McEnroe Tennis Academy (JMTA) and Sportime Volleyball Club (VBC). Sportime clubs serve individuals of every age and athletic ability, 365 days a year. Learn more: www.sportimeny.com

Jennefer Witter
The Boreland Group Inc.
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