Pickleball’s ‘Ultimate Ambassador’ Faces Backlash Over $50 Million Investment Scheme

Rodney “Rocket” Grubbs, once celebrated as pickleball’s “ultimate ambassador,” is now embroiled in a financial scandal after taking nearly $50 million from investors, many of whom claim they were misled. Grubbs, 68, is in involuntary bankruptcy, admitting to owe $47.5 million plus interest. While he insists he intended to repay the investors, the repayment process has been slow, if it happens at all. The situation has left many investors, like Bob Zitnick, questioning their trust and judgment, as they hold promissory notes from Grubbs amounting to millions.

Grubbs, a prominent figure in the pickleball community, leveraged his reputation to secure investments for his ventures, including his company, Pickleball Rocks. Promising significant returns through promissory notes, Grubbs attracted over 500 creditors across 30 states and countries. However, the Indiana Secretary of State's securities division issued a cease and desist order in January, halting Grubbs from offering these notes. Despite his claims of pandemic-related financial difficulties, many investors, like Teri Siewert, have grown increasingly skeptical, leading to the creation of support groups for those affected by his financial dealings.

The downfall of Pickleball Rocks, once touted as the “world’s most recognized pickleball apparel brand,” marks a significant turn in Grubbs’ career. His involvement in tournaments and community events has ceased, and his assets, totaling approximately $1.6 million, fall far short of his debts. Grubbs’ legacy in pickleball, once marked by growth and enthusiasm, is now overshadowed by allegations of financial misconduct and the widespread impact on his investors.