Farming could be the next hot trend for 2023 as athletes look for new ways to invest their money.
Blake Griffin and Joe Burrow, both Cincinnati Bengals players, are part of a group buying a farm on Iowa’s 104 acres for $5 million.
This investment is being made through Patricof Co., which includes about 25 athletes including NBA stars Kemba Walker and Khris Middleton, NFL’s Zach Ertz, MLB’s Kevin Gausman, and NHL’s Anders Lee.
Although the Iowa farm was purchased initially for corn and soybeans, the group plans on diversifying its operations by purchasing four additional farms over the next few years. Watermelon farms in Oregon are just a few of the options.
The group will then lease the land to farmers while earning an annual return on the investment.
