MILWAUKEE — Khris Middleton, a Milwaukee Buck, an NBA All-Star... and farmer?
"Definitely breaking the mold a little bit," Middleton says.
Middleton is breaking the pro-athletes stereotype by investing in farms. Why farming?
"Why farming?" Middleton says. "It's one of the best ways to keep our country fed. I think that's one of the easiest answers to go, but also just the longevity of farming and land. I mean, that's not going anywhere, especially in a recession, people need somewhere to go or some way, somehow to get food. Part of my reasoning to do it is just to invest. Find different ways to invest and we felt this was one of the smartest ways to do it. To protect our wealth long term, knowing that farms aren't going anywhere any time soon so this is one of the best ways to put our money aside somewhere where we can watch it go and be profitable."
Middleton is joining Bengals Quarterback Joe Burrow, Celtics forward Blake Griffin, and about two dozen pro athletes with the investment firm Patricof, in acquiring a 104-acre farm in northern Iowa.
"Land is one thing that I've always learned. There's not going to be any more new land," Middleton says. "So, to buy land when you're able to I think is one of the smartest things you could do. To own a piece of the earth is one of the most valuable assets you can have, but also when it comes to farming, this is something that can help and save many people's lives."
TMJ4's Lance Allan asks, "Do you look to give back? Do you look to say, 'hey, you know, we need more corn? We need more wheat? We need more certain crops?'"
"This is just one farm out of four other ones or five total that we're trying to get. So the first one that we bought, pretty sure was corn," Middleton says. "The next one may be a different type of crop or whatever but we're just trying to diversify and see what's out there."
The land will be leased to farmers with the group seeking a single-digit percentage annual return. But can Middleton work the land?
Lance Allan asks, "Contractually, can you jump on a tractor? Till a field? Can you do any of that?"
"Ah, I'm pretty sure I could," Middleton says with a laugh. "I used to ride a couple tractors with my granddad every now and then. But, they would definitely have to give me a refresher course if I had to do it all."
Middleton insists this is a long-term investment and even in a bad economy, it's a stable investment.
