Athletes from all the most important American sports activities are moving into the farming enterprise.
Bengals quarterback Joe Burrow, Celtics ahead Blake Griffin, Islanders ahead Anders Lee, Blue Jays pitcher Kevin Gausman, and 20 different athletes have bought a 104-acre Iowa farm for round $5 million, per a report from Front Office Sports. The farm produces corn and soy, and the well-known buyers will lease the land to farmers whereas asking for a single-digit annual return
Patricof Co. organized the group, which additionally included Kemba Walker, Khris Middleton, Zach Ertz, and Sam Hubbard, that purchased the farm. Mark Patricof, the founding father of the corporate, advised Front Office Sports that the market was proper for the athletes to spend money on farming.
“We did three investments final yr after doing six the yr earlier than,” stated Patricof. “The market modified. The world modified. Prices did not essentially go down, however valuations ought to have, so we held again. It was the proper time within the cycle to place cash into this asset class.”
The buy of this Iowa farm is not going to be the final one for this group of athletes. Four extra farm purchases are on the horizon, and a watermelon farm in Oregon is perhaps subsequent on the checklist, per the report.
Nowadays, it isn’t unusual to see athletes search for non-traditional investments. For occasion, Kevin Durant, LeBron James, and Tom Brady have all invested within the Major Pickleball League.
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