Cincinnati Bengals quarterback Joe Burrow and Boston Celtics forward Blake Griffin are starting a side business with other athletes from the four major pro sports leagues in the US. Their latest venture involves buying a large real estate holding in Iowa, according to a report by Front Office Sports.
Joe Burrow, Blake Griffin, and roughly 20 other athletes are purchasing a 104-acre farm in Iowa for roughly $5 million. The group will eventually buy 4 more properties — leasing the land to farmers and seeking a single-digit-percentage annual return on the total investment.
While it doesn’t look like Joe Burrow and Blake Griffin are looking to build their own Field of Dreams baseball field, their dream for that lot is just as big — if not grander. Perhaps depending on the success of this arrangement, Joe Burrow and company could expand the business further, which apparently has already started, per Front Office Sports’ Owen Poindexter.
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.
Apart from Joe Burrow and Griffin, also in the group are Kevin Gausman of the Toronto Blue Jays, Anders Lee of the New York Islanders, NBA free agent Kemba Walker, Milwaukee Bucks forward Khris Middleton, and Arizona Cardinals tight end Zach Ertz.
Burrow and the rest know that being athletes isn’t going to be a lifelong career, so they’d rather parlay their current financial power into worthwhile investments that could yield significant income streams in the future.