Alex Rodriguez at eMerge Americas convention in Miami on June 13, 2017.

David A. Grogan | CNBC

Alex Rodriguez is betting on The enlargement of mixed martial arts.

The earlier MLB star is now a partial proprietor of the Expert Wrestleers League after he contributed to a $30 million funding spherical, The agency said Thursday. Rodriguez joined media funding agency Waverley Capital Inside the enhance And ought to have a seat on PFL’s board of directors.

Phrases of the funding Weren’t disclosed.

This marks the second current professional sports activities funding for Rodriguez. He turned a co-proprietor of the NBA’s Minnesota Timberwolves in April 2021, becoming a member of former Walmart e-commerce authorities Marc Lore To buy the franchise for a reported $1.5 billion. By way of his A-Rod Corp. agency, he invests in UFC-branded gyms.

Rodriguez, 46, made Greater than $450 million all through his 22-season MLB profession, Based mostly on Spotrac, An internet website that tracks sports activities contracts. He retired in 2016.

PFL is now valued at $500 million, Based mostly on A particular person with information of the deal. That is up from a reported $400 million in 2021. The particular person declined to be named as a Outcome of PFL’s valuation Isn’t public.

The agency will use the funds from the Rodriguez-Waverley deal to increase worldwidely and goal free agent fighters from Endeavor-personaled UFC, PFL founder and Chairman Donn Davis said in an interview with CNBC. PFL Desires to assemble a roster to leverage its pay-per-view “Super Wrestle” event that’s scheduled to debut in 2023.

“They now have An excellent selection – UFC or PFL,” Davis said. “We’re open for enterprise Inside the pay-per-view division.”

PFL fighter Kayla Harrison gained the 2019 PFL Women’s Lightweight World Champion

Courtesy: PFL

Davis referred to as Rodriguez’s curiosity in PFL a “mutual attraction.”

“Alex is constructing a enterprise profession in sports activities that he wants to equal his baseball profession,” he said. Davis referred to as Rodriguez “revolutionary in his approfessionalach to investing and constructing corporations.”

Rodriguez credited PFL’s worldwide attain as a set off for the curiosity. The league says it has 600 million followers worldwidely and PFL matches are distributed in 160 nations. “The PFL continues To assemble and innovate for followers, media, and fighters, And there is huge demand Inside the market,” Rodriguez said in A press launch.

PFL is a single-entity league managed by buyers, collectively with excellent sports activities and leisure figures Similar to Washington Nationals proprietor Mark Lerner, former NFL star Ray Lewis, and funding corporations collectively with Ares Capital and Elysian Park Ventures.

The league has A daily season and a postseason, which concludes with six championship competitions. Wrestleers typically acquire $1 million In the event that they win. Additionally, PFL has a media rights Deal with Disney-personaled ESPN and will get sponsorship income from corporations that embrace sports activities betting agency DraftKings.

PFL has now enhanced $200 million since 2018. That Consists of a $65 million enhance in February 2021 and a $50 million Collection C in 2019. Davis said the plan is to develop PFL Proper into a multinational agency, collectively with PFL Europe and PFL Mexico.

“Their native fighters, Their very personal prime-time schedule, Their very personal events,” Davis said. “That is our focus When it Includes enlargement worldwidely.”

Source: https://www.cnbc.com/2022/05/19/alex-rodriguez-invests-in-mma-company-pfl-at-500-million-valuation.html