When it comes to managing their hard-earned fortunes, savvy athletes like Joe Burrow and Blake Griffin know the importance of strategic investments. As it turns out, both these stars, and approximately 23 others athletes associated with Patricof Co, a premier private investment platform for professional sports stars, made a striking move by collectively investing $5,000,000 in a sprawling 104-acre farm in Iowa around 6 months ago, with the anticipation of lucrative returns.
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Joe Burrow, Kemba Walker, Kevin Gausman, and Anders Lee, among others associated with Patricof Co, pooled their resources a little while back to secure prime farmland in Iowa. This unconventional investment has the potential to provide sustainable returns and diversify their income streams beyond their sporting careers.
Star Athletes Venture into Farming: Iowa Investment and Future Plans Revealed
In a bold financial move, approximately 25-star athletes, including Cincinnati Bengals’ Joe Burrow and his teammate Sam Hubbard, recently took their investment game to the farmlands. As per Front Office Sports, the group collectively purchased a 104-acre farm in Iowa for an estimated $5 million.
While the initial focus is on corn and soy production, the athletes have ambitious plans to diversify their agricultural portfolio by acquiring four more farms, including watermelon farms in Oregon, in the near future.
“We did three investments last year after doing six the year before,” said Patricof. “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.”
The decision to invest in a vast farm opens up a world of possibilities for these athletes. Beyond the excitement of game days, they are tapping into the agricultural sector. Agriculture has shown immense growth potential in recent times. By leveraging the expertise of Patricof Co, this group of athletes aims at capitalizing on the rising demand for agricultural products and land value appreciation.
Star Athletes are Exploring New Areas of Investment With Patricof
The athletes’ investment strategy involves leasing the purchased farmland to experienced farmers while reaping annual returns on their investments. The arrangement is set to yield a single-digit profit margin which makes it a lucrative venture for the group.
Blake Griffin, another member of the investing team, has already made his mark in the agriculture world with various successful investments, including AppHarvest and Lemon Perfect, as well as being an investor in SpaceX. Approximately 200 athletes are associated with Patricof Co, a specialized investment platform that assists athletes in diversifying their portfolios.
Patricof Co is known for sourcing diverse investment opportunities for athletes. They also incorporate institutional investors such as JPMorgan to ensure a well-rounded investment experience.
Their previous ventures have included stocks and bonds. It also includes investments in popular brands like Cholula and high-profile projects like SpaceX. Justin Jefferson, Jason Kelce, and Khris Middleton also have invested in a travel app startup ‘GetYourGuide’. The startup which is valued at close to $2 billion also gained support from Patricof Co.
With their latest farm investment and plans to expand further in the agricultural sector, the athletes are showcasing their financial acumen and commitment to securing a prosperous future beyond their sporting careers.
