Joe Burrow, Blake Griffin Team Up to Buy $5 Million Farm in Iowa

Patricof Co. has put together an agriculture purchase by a group of professional athletes for $5 million.

learn more about Entrepreneur Staff

By Entrepreneur Staff

Kirk Irwin | Getty Images

Old MacDonald had a farm…and it's gonna need a bigger trophy case.

Bengals quarterback Joe Burrow, Celtics power forward Blake Griffin, Blue Jays pitcher Kevin Gausman, Islanders winger Anders Lee, and several other professional athletes have teamed up to purchase a farm in Iowa. The farm in question is 104 acres and produces corn and soy. According to Front Office Sports, the purchase was made through a $5 million fund they all contributed to and was set up by Patricof Co., which sources investment opportunities for athletes.

Related: Athlete and Businesswoman Venus Williams Shares Her Secrets to Building Brands and Staying Focused

So will Joe Burrow be out there riding a tractor during the offseason? Not exactly. The group plans to lease the land to farmers and take a single-digit-percentage annual return on the total investment. And they are actively planning to buy four more farms.

Related: Shaq on FTX Lawsuit: 'I Was Just a Paid Spokesman'

When it comes to investing, these athletes are no rookies. This past December, Burrow announced he was a founding partner in the Pro Volleyball Federation — a professional women's volleyball league set to launch in 2024. And Blake Griffin is an investor in SpaceX, among other companies.

Athletes becoming entrepreneurs is nothing new. More and more, superstar athletes are using their massive contracts to back businesses (and add some more zeros to their seven and eight-digit paychecks.)

Lebron James owns 19 Blaze Pizza franchises and had a large stack in Beats Electronics before the company was bought for $3 billion by Apple. Alex Rodriguez's investment firm oversees hundreds of millions in real estate properties. Serena Williams launched a venture capital firm that invests in minority- and women-owned businesses. And Kevin Durant has invested millions into dozens and dozens of startups, including Postmates, Coinbase, Robinhood, and Acorns.

Related: How Michael Strahan Took Control of His Post-Football Career

Entrepreneur Staff

Entrepreneur Staff


Related Topics

Editor's Pick

Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
Business News

'This Made Me Physically Recoil From My Phone': Lingerie Brand Apologizes For 'Creepy' Ad Referencing Ryan Reynolds and Bras

Online lingerie retailer Harper Wilde is under fire for a bizarre sponsored post it has since pulled from Instagram.

Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.

Business News

Viral Sensation 'Popcorn Guy' Has Earned a Gig at the 2023 Oscars

Jason Grosboll first went viral on TikTok for his theatrical method of buttering popcorn in a Texas movie theater.

Business News

The Scam Artist Who Robbed Backstreet Boys and NSYNC Blind. 'Some of the Guys Couldn't Pay Their Car Payment.'

In the 1990s, Lou Pearlman made millions creating the Backstreet Boys and NSYNC. It was all a giant Ponzi scheme.