ESPN's Brett Okamoto reported Lynch joins comedian Kevin Hart and rapper Wiz Khalifa among the PFL's celebrity partners.
"I'm really on that owner hype right now, ya feel me," Lynch said. "Pro teams, leagues, companies and brands, I'm wit it. Ownership allows you to be closer to the action, to keep learning and making a difference. At the end of the day, the PFL opportunity is another blessing, that's all I can really say. PFL is the future of MMA, and it's always a win-win when you can work with like-minded folks."
The PFL, which launched in 2018, uses a yearly format with a regular season and playoffs. The champion in each weight division is awarded a bonus.
The promotion's 2020 season was canceled because of the coronavirus pandemic, but it returned to action last Friday night with its first event of the 2021 campaign. There's another card set for Thursday night at Ocean Casino Resort in Atlantic City, New Jersey.
Starting with Thursday's card, Okamoto noted the PFL will begin handing out the "BeastMode Fighter of the Night" as part of the partnership with Lynch, whose nickname in the NFL was Beast Mode.
A welterweight clash between Rory MacDonald and Curtis Millender will headline the second PFL event of 2021, which will air on ESPN beginning at 9 p.m. ET.
The top four fighters in each division at the end of the regular season will qualify for the playoffs.
Lynch played 12 seasons as a member of the Buffalo Bills, Seattle Seahawks and Oakland Raiders, most recently taking the field in 2019. His career resume includes a Super Bowl title with the Hawks, five Pro Bowl appearances and a First Team All-Pro selection in 2012.
In 2015, the star running back utilized MMA training while recovering from a hernia surgery.