The 'Lollipop' hitmaker is already the co-founder of his successful Young Money Entertainment record label, and he is hoping to expand his empire to the sports world, reported MTV online.
"Wayne has had his sights set on starting a sports management firm for a while, and to make the transition smooth, he has recruited his friend and Portuguese footballer Ronaldo as his first client," a source said.
Wayne, 31, and his Young Money bosses will be collaborating with company PolarisSports, which is the firm Ronaldo's agent Jorge Mendes works for.