HOUSTON (Jan. 23, 2020) – What goes with baseball more than a cold beer?
Alex Rodriguez is buying a minority stake in Dominican beer Presidente through his investment firm A-Rod Corp, sources told Page Six, and the former slugger will serve as chairman of the brand.
The deal with Anheuser-Busch InBev is expected to be announced Thursday at a sales conference put on by the beer giant, we hear.
A source told us, “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.”
A-Rod grew up in the Dominican Republic and Miami. Presidente has previously been the official beer of the University of Miami Hurricanes football team, as well as the Orange Bowl in Miami. The brew’s also been the official beer of Miami squads the Heat and the Marlins.
Sources said that A-Rod’s previously been brought dozens of offers to endorse or invest in liquor brands, but that he was ultimately only interested in pursuing Presidente as an organic match to his Dominican roots. Major League Baseball is also rife with Dominican stars from Robinson Cano to recently retired David Ortiz.
“Presidente and baseball are like a religion there. It’s a perfect fit for him,” said an observer, adding that in the States, “The upside is tremendous. There is a ton of growth space.”
A-Rod Corp encompasses a real estate investment and development firm, has investments in fitness studios by TruFusion, UFC and Energy Fitness. The firm also backs numerous media and tech startups.
“He’s building business in a big way with everything he’s built and learned,” said a source of A-Rod.
He’s also a commentator for Fox Sports and ESPN, and hosts “Back in the Game” on CNBC
(Article by: Ian Mohr)