Joe Montana is getting into the pot-growing industry
Hall of Fame quarterback Joe Montana, looking to hit pay dirt in the legal marijuana industry, is part of a $75 million investment in a pot operator, it was announced Thursday.
San Jose, Calif.-based Caliva said it will use the investment to grow a company that includes a farm, a retail store, distribution center and a delivery service. It also distributes its branded products in dozens of other retail outlets in the state.
The former San Francisco 49ers star said his venture capital firm was investing in an industry he believes “can provide relief to many people and can make a serious impact on opioid use or addiction.” Some doctors recommend marijuana to treat opioid addiction and as an alternate relief for pain.
Montana is the latest, and one of the most prominent, professional athletes to openly endorse marijuana use, following NBA Hall of Famer Bill Walton, two-time Super Bowl winning quarterback Jim McMahon and professional wrestling star Rob Van Dam.
Montana launched the venture capital firm Liquid 2 Ventures in 2015. Caliva didn’t disclose Montana’s portion of the investment.