Joe Burrow and 20 Other Athletes Are Investing in… Iowa Farmland?!?
Nowadays when you hear of professional athletes and investing, you assume it's the usual multi-million-dollar deal with a brand or maybe even purchasing a stake in a business.
Joe Burrow is unconventional. Now, the Iowa native and 20 other athletes are putting their unique mindsets into a new investment: farmland in Iowa.
Per a post on Twitter by Front Office Sports, Burrow and approximately 20 others are getting their hands dirty by choosing to invest in a 100+ acre property (and perhaps others) in the Hawkeye state:
Details are still sparse at this time, but per the article:
Joe Burrow, Blake Griffin, Kevin Gausman, Anders Lee, and around 20 other athletes are purchasing a farm in Iowa for roughly $5 million.
- The group is purchasing a 104-acre, corn- and soy-focused farm in northern Iowa through a special-purpose vehicle arranged by Patricof Co.
- Kemba Walker, Khris Middleton, Zach Ertz, and Sam Hubbard are also buying in.
- The group will lease the land to farmers and seek a single-digit-percentage annual return on the total investment.
The group — which will purchase four additional farms within the next few years, seeking a diverse set of agricultural assets — have looked into watermelon farms in Oregon, which tend to be smaller and offer higher per-acre rent.
Burrow was born in Ames and grew up in Ohio before starring for the LSU Tigers. After winning a National Championship with LSU in 2019, Burrow moved on to be the #1 overall pick of the Cincinnati Bengals in the 2020 draft and has since led the team to the Super Bowl.