Alex Rodriguez Is Reportedly Starting a Professional Sports Investment Fund With Assets 'in the Billions'The retired MLB star is currently chairman and CEO of his investment company, A-Rod Corp.

ByEmily Rella

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MLB former player Alex Rodriguez walks in the dugout prior to the game between Puerto Rico and the Dominican Republic at loanDepot park on March 15, 2023 in Miami, Florida.

Former New York Yankee and legendary MLB player Alex Rodriguez has certainly cemented his place in sports history.

Now, the slugger is reportedly looking to make waves in the sporting industry behind the scenes.

Per reports from theNew York Post, A-Rod is looking to create a private equity fund that will take stakes in professional sports teams in the U.S. including the MLB, NFL and NHL, and international soccer and cricket teams.

Rodriguez is hoping that the fund will have assets "in the billions," a source close to the situation told thePost.

The superstar iscurrently in the processof purchasing the NBA's Minnesota Timberwolves with billionaire entrepreneur Marc Lore. The paircompleted another $290 million paymenttoward the acquisition in March of this year. They still have one more payment installment before they become majority owners, which is slated to happen by the end of March 2024.

Rodriguez is also chairman and CEO of the aptly namedA-Rod Corp, an investment firm that backs companies across many industries, which is helping fund his deal to acquire the Timberwolves.

Should the MLB star's new fund take flight, he would most likely not be able to invest in minority stakes for NBA teams as he would already be the majority owner of a competing team.

"Alex's successful purchase of the Timberwolves franchise has drawn the interest of large PE firms and institutional investors who are courting him to create sizable PE funds that would invest in the broader sports and real estate universe," the source told thePost.

Rodriguez has reportedly hired recruiters to him find managers for the fund.

Through A-Rod Corp, Rodriguezhas invested inthe MMA sporting league PFL, where he sits on the board of directors.

His net worthis an estimated3.5亿美元。

Wavy Line
Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

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