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Athletes from all major American sports are entering the agricultural business.
Bengals quarterback Joe Burrow, Celtics forward Blake Griffin, Islanders forward Anders Lee, Blue Jays pitcher Kevin Gaussman, and others, according to a Front Office Sports report. 20 athletes have purchased a 104-acre Iowa farm for about $5 million. The farm produces corn and soybeans, and a prominent investor leases the land to farmers, demanding single-digit annual returns.
The Patrikoff Company arranged for a group including Kemba Walker, Chris Middleton, Zach Ertz and Sam Hubbard who purchased the farm. The company’s founder Mark Patricoff told Front Office Sports that the market is good for athletes to invest in agriculture.
Mr. Patricoff said: “The market has changed. The world has changed. The price didn’t necessarily go down, but the valuation should have gone down, so we held back. It was time
This Iowa farm purchase will not be the last for this group of athletes. Four more farm purchases are on the horizon, according to reports, and an Oregon watermelon farm could be next on the list.
Today, it’s not uncommon to see athletes looking for non-traditional investments. For example, Kevin Durant, LeBron James, Tom Brady Fully invested in the major pickleball leagues.
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