A group of around two dozen athletes, including Cincinnati Bengals quarterback Joe Burrow and Milwaukee Bucks small forward Khris Middleton, have acquired a northern Iowa farm.
The $5 million investment is the first farm purchase by the group, which plans on purchasing four additional farms in the coming years.
"As a pro athlete, I’m pitching countless investment ideas and ‘opportunities’ all the time," Middleton said, according to Patricof’s website. "When it came to this specific deal that Patricof brought to me, I was attracted to it because of how different it was. Why farms? "But when I looked at the history of returns, especially how U.S. farms have performed over the last 30 years, including during bad times in the economy, the stability is what stood out.
Khris Middleton of the Milwaukee Bucks arrives to the arena before a game against the Boston Celtics Dec. 25, 2022, at the TD Garden in Boston. The land will be leased to farmers as the group seeks a single-digit percentage annual return, according to Front Office Sports. for people who are learning to invest for the long term," said Mark Patricof, the firm’s founder and CEO.
Joe Burrow of the Cincinnati Bengals warms up prior to a game against the Tampa Bay Buccaneers at Raymond James Stadium Dec. 18, 2022, in Tampa, Fla.
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