Please ensure Javascript is enabled for purposes of website accessibility
Football Great Joe Montana Looking to Score With Marijuana
gvw_ap_news
By Associated Press
Published 6 years ago on
January 25, 2019

Share

SAN FRANCISCO — 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, California-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.

The Investment Will Be Used to Open More Stores

Former Yahoo! Inc. chief executive officer Carol Bartz also participated in the investment and will join the company’s board of directors.

“People are discovering there are better ways to clamp down on pain than over drugging yourself.”Carol Bartz, former Yahoo! Inc. chief executive officer
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.
“I wasn’t a reefer head when I was in college,” Bartz said with a chuckle.
Until about seven months ago, Bartz said she had no interest in marijuana or the industry. Then the wife of a fellow Cisco Systems board member told her to try cannabis cream to treat pain caused by a knee replacement and almost overnight, she said she became marijuana’s best salesperson.
“People are discovering there are better ways to clamp down on pain than over drugging yourself,” she said. Bartz said she doesn’t smoke or consume edible marijuana, but uses cannabis-based creams and tinctures.
Bartz said the investment will be used to open more stores and expand operations and launch new products, including cannabis-based beverages.

Slowing the Industry’s Growth in 2018

California broadly legalized marijuana on Jan. 1 and state officials predicted as many as 6,000 stores would open in a matter of a few years. But the state Bureau of Cannabis Control issued just 547 retail licenses in 2018 and sales fell below expectations.
Gov. Jerry Brown’s 2018 budget projection of $630 million in marijuana taxes fell short by $159 million.
Bartz blamed the state’s high marijuana tax and complicated regulations for slowing the industry’s growth in 2018.
Montana, 62, hasn’t publicly said if he uses marijuana and he didn’t respond to an interview request. But this isn’t his first investment in the marijuana industry.
Montana in 2017 took part in a $4.1 million investment in Herb, which produces and distributes marijuana-related news and entertainment.
Montana retired after the 1994 season, playing 13 of his 15 year-career with the San Francisco 49ers who won four Super Bowls with him as starting quarterback.

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

NOAA ‘Fully Staffed’ With Forecasters, Scientists, US Commerce Secretary Says

DON'T MISS

Ukraine’s Zelenskyy Suggests Truce Until Meeting With Putin Can Be Arranged

DON'T MISS

49ers Overhaul Defensive Line With Rookies and Bryce Huff After Disappointing Season

DON'T MISS

Rams Pass Rusher Jared Verse Ready to Build on Strong Rookie Season

DON'T MISS

Muncy’s 2 Homers and Freeman’s RBI Double Lift Dodgers Over Mets in 10 Innings

DON'T MISS

Pressure Mounts on Netanyahu as Opposition Moves to Dissolve Parliament

DON'T MISS

Trump’s Big Bill Will Cut Taxes by $3.7T and Add $2.4T to Deficit, Budget Office Says

DON'T MISS

Dollar Slips After Data Disappoints, Trump Calls for Rate Cut

DON'T MISS

US Sees No Viable Path for California High-Speed Rail Project, May Rescind $4 Billion

DON'T MISS

Tulare County’s Lake Success Spillway Expansion Completed, Celebrated

UP NEXT

Young Democrats Offer Lessons for Their Leaders at Party Convention

UP NEXT

California Prisons Have a Narcotics Problem. Now, More People Will Face Canine Searches

UP NEXT

California Inmate Gets Five Years for Role in Drone Drug Smuggling Scheme

UP NEXT

Trump Threatens California With Fines After Trans Athlete Wins Girls’ State Titles

UP NEXT

Trump Amplifies Outlandish Robot Biden Conspiracy Theory

UP NEXT

Trans Athlete in Political Storm Earns, and Shares, First Place in Event

UP NEXT

California Plans to Ban Most Plants Within 5 Feet of Homes for Wildfire Safety

UP NEXT

American Doctors Are Moving to Canada To Escape the Trump Administration

UP NEXT

Trump Trade War Has Already Had Huge Effect on California Ports

UP NEXT

How Gentrification Is Killing the Bus: California’s Rising Rents Are Pushing Out Commuters

Rams Pass Rusher Jared Verse Ready to Build on Strong Rookie Season

31 minutes ago

Muncy’s 2 Homers and Freeman’s RBI Double Lift Dodgers Over Mets in 10 Innings

38 minutes ago

Pressure Mounts on Netanyahu as Opposition Moves to Dissolve Parliament

1 hour ago

Trump’s Big Bill Will Cut Taxes by $3.7T and Add $2.4T to Deficit, Budget Office Says

1 hour ago

Dollar Slips After Data Disappoints, Trump Calls for Rate Cut

2 hours ago

US Sees No Viable Path for California High-Speed Rail Project, May Rescind $4 Billion

2 hours ago

Tulare County’s Lake Success Spillway Expansion Completed, Celebrated

2 hours ago

Fresno Animal Center to Offer Free Adoptions for California Adopt-a-Pet Day

2 hours ago

Clovis Unified Families ‘Resigned’ To Grad Ceremony Ban, Attorney Says

16 hours ago

Hegseth Orders the Name of Gay Rights Activist Harvey Milk Scrubbed From Navy Ship

17 hours ago

NOAA ‘Fully Staffed’ With Forecasters, Scientists, US Commerce Secretary Says

U.S. Commerce Secretary Howard Lutnick told a Senate hearing that the National Oceanic and Atmospheric Administration (NOAA) is “fully...

3 minutes ago

3 minutes ago

NOAA ‘Fully Staffed’ With Forecasters, Scientists, US Commerce Secretary Says

9 minutes ago

Ukraine’s Zelenskyy Suggests Truce Until Meeting With Putin Can Be Arranged

28 minutes ago

49ers Overhaul Defensive Line With Rookies and Bryce Huff After Disappointing Season

Rams
31 minutes ago

Rams Pass Rusher Jared Verse Ready to Build on Strong Rookie Season

38 minutes ago

Muncy’s 2 Homers and Freeman’s RBI Double Lift Dodgers Over Mets in 10 Innings

Israeli Prime Minister Benjamin Netanyahu speaks during a press conference, in Jerusalem, May 21, 2025. REUTERS/Ronen Zvulun/Pool/File Photo
1 hour ago

Pressure Mounts on Netanyahu as Opposition Moves to Dissolve Parliament

1 hour ago

Trump’s Big Bill Will Cut Taxes by $3.7T and Add $2.4T to Deficit, Budget Office Says

U.S. dollar, Euro and Pound banknotes are seen in this illustration taken May 4, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
2 hours ago

Dollar Slips After Data Disappoints, Trump Calls for Rate Cut

Help continue the work that gets you the news that matters most.

Search

Send this to a friend