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Actualizado
Joe Burrow and Blake Griffin are the biggest names amongst over 20 other athletes from one of the four major professional leagues in the United States, such as the NFL, the NBA, the NHL and the MLB, that joined forces to form a fund of around $5 million dollars, which was used to purchase farming land in Iowa.
Among the other athletes involved we can find names like Kemba Walker, Khris Middleton, Anders Lee, Kevin Gausman, Sam Hubbard, Zach Ertz and many more.
Why did Joe Burrow and other athletes buy farming land
The group bought the land to then lease it to farmers who work it and gives the athletes a single-digit percentage annual return to their investment, a move that was presented by Patricof Co.
It's belived that this group of athletes will look to buy four additional farms in the coming years, having already looked into the watermelon farms in Oregon, who due to their smaller size, offer a higher per-acre rent than others, according to Front Office Sports.
Mark Patricof, the founder of Patricof Co., told Front Office Sports why this investment was a good one, specially due to the timing of it.
"We did three investments last year after doing six the year before. The market changed. The world changed. Prices didn't necessarily go down, but valuations should have, so we held back. It was the right time in the cycle to put money into this asset class."
