Alex Rodriguez purchases mixed martial arts business PFL at $500 million evaluation

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Alex Rodriguez invests in MMA company PFL at $500 million valuation

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

David A. Grogan|CNBC

Alex Rodriguez is banking on the development of combined martial arts.

The previous MLB star is now a partial owner of the Professional Fighters League after he added to a $30 million financing round, the business statedThursday Rodriguez signed up with media financial investment company Waverley Capital in the raise and will have a seat on PFL’s board of directors.

Terms of the financial investment were not divulged.

This marks the 2nd current professional sports financial investment forRodriguez He ended up being a co-owner of the NBA’s Minnesota Timberwolves in April 2021, signing up with previous Walmart e-commerce executive Marc Lore to purchase the franchise for a reported $1.5 billion. Through his A-RodCorp company, he purchases UFC-branded fitness centers.

Rodriguez, 46, made more than $450 million throughout his 22- season MLB profession, according to Spotrac, a site that tracks sports agreements. He retired in 2016.

PFL is now valued at $500 million, according to an individual with understanding of the offer. That’s up from a reported $400 million in2021 The individual decreased to be called since PFL’s evaluation isn’t public.

The business will utilize the funds from the Rodriguez-Waverley offer to broaden worldwide and target complimentary representative fighters from Endeavor- owned UFC, PFL creator and Chairman Donn Davis stated in an interview with CNBC. PFL wishes to develop a lineup to take advantage of its pay-per-view “Super Fight” occasion that’s arranged to debut in 2023.

“They now have a great option – UFC or PFL,” Davis stated. “We’re open for business in the pay-per-view division.”

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

Courtesy: PFL

Davis called Rodriguez’s interest in PFL a “mutual attraction.”

“Alex is building a business career in sports that he wants to equal his baseball career,” he stated. Davis called Rodriguez “innovative in his approach to investing and building companies.”

Rodriguez credited PFL’s international reach as a factor for the interest. The league states it has 600 million fans worldwide and PFL matches are dispersed in 160 nations. “The PFL continues to build and innovate for fans, media, and fighters, and there is massive demand in the marketplace,” Rodriguez stated in a declaration.

PFL is a single-entity league managed by financiers, consisting of popular sports and home entertainment figures such as Washington Nationals owner Mark Lerner, previous NFL star Ray Lewis, and financial investment companies consisting of Ares Capital and Elysian Park Ventures.

The league has a routine season and a postseason, which concludes with 6 champion competitors. Fighters normally get $1 million if they win. Also, PFL has a media rights handle Disney- owned ESPN and gets sponsorship earnings from business that consist of sports wagering firm DraftKings.

PFL has actually now raised $200 million given that2018 That consists of a $65 million raise in February 2021 and a $50 million Series C in2019 Davis stated the strategy is to grow PFL into an international business, consisting of PFL Europe and PFL Mexico.

“Their local fighters, their own prime-time schedule, their own events,” Davis stated. “That’s our focus in terms of expansion internationally.”

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