SAN FRANCISCO — Super Bowl-winning quarterback and Hall of Famer Joe Montana is looking to make some high profits in the legal marijuana industry.
The San Francisco 49ers legend is investing $75 million in “Caliva,” a San Jose-based company.Montana said he hopes his investment will provide relief to people fighting an opioid addiction.
Many doctors recommend marijuana to treat opioid abuse and as an alternative relief for pain.
Montana is the latest, and one of the most prominent, professional athletes to openly endorse marijuana use. Heisman trophy winner and retired NFL running back Ricky Williams and NBA Hall of Famer Bill Walton have been particularly outspoken in their embrace of marijuana. Super Bowl winning quarterback Jim McMahon, professional wrestling star Rob Van Dam and ultramarathon runner Avery Collins also publicly endorse marijuana.
Montana launched the venture capital firm Liquid 2 Ventures in 2015. Caliva didn’t disclose Montana’s portion of the investment.Former Yahoo! Inc. chief executive officer Carol Bartz also participated in the investment and will join the company’s board of directors.
Bartz, 70, said the Caliva investors show the growing mainstream acceptance of marijuana, which can be legally consumed by adults in 10 states and can be used by patients with doctors’ recommendations in 33 states.
The Associated Press contributed to this report.