Former baseball star Alex Rodriguez is investing in the Professional Fighters League and joining the mixed-martial-arts fight promoter’s board of directors as the company looks to enter new markets and start a new pay-per-view operation.
The funding round values the PFL at $500 million, according to the league. Private equity firm Waverley Capital Partners, headed by former top Warner Music executive Edgar Bronfman, led the $30 million round. Existing investors include Ares Capital Corp., Elysian Park Ventures, football legend Ray Lewis, rapper Wiz Khalifa and sports-team owners Ted Leonsis and Mark Lerner.
