Despite disliking golf, Mark Cuban still invested $1 million in a golf company on 'Shark Tank'.

On "Shark Tank," Mark Cuban stated that he dislikes golf, yet he invested $1 million in a company that produces portable golf courses.

BucketGolf, a San Francisco-based company founded by brother-and-sister duo Tyler and Jenny Simmons, offers a golf-like game featuring foldable buckets as holes that can be placed anywhere for players to use.

At the time of the episode's taping, Tyler Simmons, CEO and founder of BucketGolf, stated that the company was on track to generate more than $12 million in sales in 2024, up from $5.9 million in 2023 and $2.5 million in 2022. He also mentioned that roughly 15% to 20% of the company's revenue this year would be profit.

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The siblings requested $1 million from the show's investor judges in exchange for a 10% equity stake in BucketGolf, stating that they needed the funds to expand their inventory. According to their website, BucketGolf's prices range from $114.99 for a basic six-hole set to $254.99 for a light-up nine-hole set that includes multiple clubs.

Tyler Simmons stated that BucketGolf could benefit from Shark's mentorship on logistics matters, as they have yet to make it through a busy season without running out of some of their best products.

Cuban 'sits and waits until the last moment'

The siblings received $2 million for 45% equity in their company, with Daymond John and Lori Greiner each contributing $1 million.

"John said to the BucketGolf duo, "I haven't tried golf enough to say I hate it, but I do hate the idea of it. However, I can see myself enjoying it and inviting my friends and family to play with me.""

Greiner remarked that Cuban, who frequently remains silent during heated negotiations, unexpectedly spoke up last, offering the siblings $1 million for 15% of BucketGolf, which was less equity than his peers desired.

Cuban rejected the Simmonses' request for 12.5% equity, stating, "No, come on. I'm going to bring enough value that it's going to be worthwhile. Just the fact that I hate golf and I'm going to do videos of doing this."

"We can conduct demos and participate in a PGA event," he stated. "There are numerous ways to increase visibility."

The siblings increased their offer, stating they could achieve the same level of achievement as Spikeball, a sports game company that was featured on "Shark Tank" in 2015. Cuban had previously declined to invest in the company and referred to it as "the one that got away" in an episode of Peacock's "Hart to Heart" last year.

Cuban agreed to the siblings' desired terms after Greiner agreed, and he ultimately accepted their offer.

CNBC Make It couldn't confirm if the deal was finalized after filming, as BucketGolf did not respond to their request for comment.

"We opted for Mark's proposal over Lori's because we believed he had a stronger background in sports," Tyler Simmons stated on the program. "He is the ideal collaborator to help us elevate our project to the next level."

CNBC has the exclusive rights to air "Shark Tank" off-network.

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