Alex Rodriguez is keeping a close eye on renewed stock market volatility and fresh fears of a rate hike by new Fed Chairman Kevin Warsh.

“I think things are very expensive right now … I’ve sold a lot of the market publicly. I think there’ll be another opportunity soon,” the CEO of A-Rod Corp. told Yahoo Finance at the Cannes Lions Festival of Creativity on Tuesday.

“I’m bullish on what this year’s going to end like,” Rodriguez added. “I think it’ll be rocky over the next two or three months as things settle all over the world — geopolitics and interest rates and private credit … but sports is not correlated to the market. So we continue to invest heavily in sports and then let things settle a little bit on the private side.”

Rodriguez boasts one of the most prolific yet controversial careers in Major League Baseball history. He blasted 696 home runs and secured three American League MVP awards across 22 seasons with the Mariners, Rangers, and Yankees. He won a World Series with the Yankees and amassed about $500 million in salary, bonuses, and endorsements over his career. However, his on-field brilliance was permanently shadowed by a season-long performance-enhancing drug suspension in 2014.

Since then, Rodriguez has executed a high-profile second act as a corporate titan leading A-Rod Corp.

Beyond building a real estate empire encompassing thousands of multifamily apartment units, Rodriguez has aggressively pushed into high-growth tech sectors. His investment vehicle was an early private backer of AI pioneer OpenAI (OPAI.PVT).

But his crown jewel as a business titan is the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx, which he acquired with serial e-commerce entrepreneur and former Walmart (WMT) exec Marc Lore.

Rodriguez said a rate hike wouldn’t hurt his portfolio, “because we don’t look at things for six months or a year. When we think about the Timberwolves, we think about owning them for 50 years. When we have our real estate, we can stay there for 15, 20, 25 years.”

Brian Sozzi is Yahoo Finance’s Executive Editor and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.

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