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

Getty Images
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 Entrepreneur.com. 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.

Editor's Pick

Lock
A Simple Household Chore Turned Into a Side Hustle —Now She Earns Up to $24,000 Per Month
How Real Estate Rock StarRyan Serhant Made His Own Luck
Lock
Do You Judge People With Personal Brands?Here's Another Way to Think About It.
This Founder Created a Billion-Dollar Fitness Brand Using Communication, Teamwork and Community.Here Are His Secrets to Building a Franchise That Stands Out.

Related Topics

Side Hustle

A Simple Household Chore Turned Into a Side Hustle — Now She Earns Up to $24,000 Per Month

Christian Sanya, 44, was working as a medical laboratory technologist in 2019 when she discovered a side gig that would change her life.

Business News

Oscar Mayer Is Changing the Name of Its Iconic Wienermobile

The company is slamming the brakes on its wiener on wheels and rolling out a new meaty ride.

Living

3 Gratitude Habits for Business Leaders to Motivate Your Teams — and Yourself.

Practicing gratitude will not only help you focus on the positive, but it will also help boost team morale, employee engagement and — in turn — your profits. Try these three simple strategies you can turn into habits.

Business News

Internet Enamored With 6-Year-Old Who Has A Full Morning Routine Before School: 'He Looks Like A Real Scholar'

Ayaan Holder begins his mornings at 6:30 a.m., as documented by his mother, Angel.

Growing a Business

4 Ways to Train Employees Effectively

Without the right combination of technology, hands-on attention and follow up you can't be confident what is taught today will be remembered tomorrow.

滚球188bet

Ask Marc | Free Business Advice Session with the Co-Founder of Netflix

Get free business advice during our next Ask Marc, live Q&A, on 5/23/23 at 3 p.m. EDT. You don't want to miss it—send in your questions now.