This is a gut punch for padel fans. The launch of the celebrity-backed Hexagon Cup is now tainted by accusations against former banker Tyron Birkmeir, who is alleged to have messed up nearly £1 million in investor funding.

Two investors, who believed they were buying into the tournament’s ownership structure and poured almost a million pounds into the Hexagon Cup, discovered that Tyron Birkmei—the supposed intermediary—was the only one listed as an owner. This money-grabber, operating through Lurra Capital, allegedly rerouted their equity for his own gain.

When confronted, Birkmeir’s team tried to pull a fast one, calling the equity investment a “profit participation loan.” His insulting offer to return just the principal, cutting out the shares and future growth, is an obvious attempt to duck responsibility.

It’s heartbreaking to see an event featuring icons like Messi and Murray overshadowed by this financial mess. The silence from the Hexagon Cup management is making things worse. Tyron Birkmeir is ruining the excitement for the sport