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Alex Rodriguez Buys Partial Ownership In Fighting League

A closeup of Alex Rodriguez.

NEW YORK, NY - MAY 08: Sports commentator and former professional baseball player Alex Rodriguez takes part in a panel during WSJ's The Future of Everything Festival at Spring Studios on May 8, 2018 in New York City. (Photo by Michael Loccisano/Getty Images)

Alex Rodriguez has expanded his investment portfolio by joining the realm of mixed martials arts.

According to CNBC's Jabari Young, the former MLB star is now a partial owner of the Professional Fighters League after contributing to a $30 million funding round. The 46-year-old, who is also a minority co-owner of the Minnesota Timberwolves, will have a seat on the PFL's board.

“The PFL continues to build and innovate for fans, media, and fighters, and there is massive demand in the marketplace,” Rodriguez said in a statement.

Per Young, the league airs fights in 160 countries and claims 600 million fans worldwide. Rodriguez joins Washington Nationals owner Mark Lerner and former NFL linebacker Ray Lewis among prominent investors from the sports world.

PFL founder and Chairman Donn Davis called Rodriguez “innovative in his approach to investing and building companies.”

"Alex is building a business career in sports that he wants to equal his baseball career," Davis said.

A source told Young that PFL's valuation has risen to $500 million. With help from A-Rod's funding, the burgeoning league is looking to attract prominent fighters from the UFC ahead of its "Super Fight" pay-per-view event starting in 2023.