Alex Rodriguez is going from the clubhouse to the board room after purchasing a minority stake in Dominican beer brand Presidente, according to a report by the New York Post.
Rodriguez will serve as chairman, the report said.
Rodriguez, the former all-star Major League Baseball player, is buying the stake through his A-Rod Corp investment firm.
The Post’s source said that Rodriguez would “work very closely” with Anheuser-Busch as the two sides look to deepen their ties.
“Alex bought a minority stake. They’re partners, and he’ll be the chairman, and work very closely with Anheuser-Busch as they look to do more together. There really is unlimited potential of what can be done. It’s real involvement and real ownership,” the source told the Post.
A-Rod Corp has segments that include fitness and wellness, a media production arm, real estate and social responsibility.
The company already has partnerships with Snap Inc., the UFC, New York Yankees, Sonder, Fitplan and DSW.
A-Rod Corp didn't immediately respond to a request for comment.
"I am someone that likes just to play the long and steady game, long and slow. Some index funds work really well for me, like the S&P 500 index - low fees, [and] it's proven that over time, that's going to do better than pretty much anything else. And then I have my three or four winners that I like and that I've been doing for a long time,” Rodriguez previously told TheStreet.
American depositary receipts of Anheuser-Busch were falling 0.5% to $77.71 on Thursday. The stock has declined 20% over the past six months.