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.
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.
REPOSTED FROM ENTRETRENEUR.COM – READ FULL ARTICLE HERE
Team Spotlight: Kari Rickenbach, Permanent Crop Associate Kari brings more than 20 years of experience in the permanent crop industry to Root Ag Advisory. With a background in farm operations, financial management, and horticulture, she understands the decisions producers face from both the field and business side of an operation. Her experience helps support Root… Employee Spotlight: Kari Richenbach
🌾Farm succession is not just about who gets the land. It is about protecting the operation, preserving family relationships, planning for taxes, assets, water, leases, and long-term goals… And making sure the next generation has a clear path forward. Consider the following when creating your farm’s succession plan: – The earlier the conversation starts, the… Farmland Succession Planning
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