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Manny Pacquiao enters MMA business with purchase of ONE FC shares

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Maddie Meyer

He won't be strapping on the four ounce gloves of the sport, but boxer Manny Pacquiao is now officially a part of mixed martial arts with the purchase of an undisclosed amount of shares in Asian promotion ONE FC. Kevin Iole of Yahoo Sports was the first to report the news.

According to the report, no direct responsibilities are outlined for Pacquiao, but ONE FC Victor Cui said he was looking to leverage's Pacquiao's popularity in the Philippines and wider region to promote the brand.

"I'm pretty pumped," Cui told Yahoo Sports. "There are a ton of reasons why I'm pretty excited about this. Obviously, Manny Pacquiao is a global sports icon and having him as a part of our organization as a shareholder and promoting One FC and promoting the sport is huge for the sport in the region. It promotes awareness and growth."

Cui said schedule permitting, a press conference with Pacquiao would be held in Manilla to promote an upcoming ONE FC card.

Pacquiao, 35, is the WBO welterweight champion. He faces Chris Aligeri at The Venetian in Macau, China on November 22nd on pay-per-view.