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Posey becomes first ex-player to join Giants ownership group

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SAN FRANCISCO -- When Buster Posey retired last November, Giants officials made it clear that they planned to lean on the future Hall-of-Famer for years to come. They now can do so in a more official -- and surprising -- way. 

The organization announced Wednesday morning that Posey has bought into the ownership group as the 31st principal partner and become a member of their Board of Directors, which is chaired by Greg Johnson. Posey, 35, becomes the youngest member of the ownership group for a franchise valued at well over $3 billion. 

In a statement announcing the move, Johnson said that Posey approached the Giants after retiring last year and expressed interest in becoming part of ownership.

"We were thrilled that he wanted to make this type of commitment," Johnson said. "It is rare for a former player to join his own team's ownership with the desire to have an active role. I'm excited to have Buster serve on our Board of Directors where his unique perspective and valuable insights will be a benefit to both our business and baseball decisions. 

"His lived experience within the organization, from the clubhouse to the community, will further make him a great thought partner for me, Larry, Farhan and others."

It is not uncommon for players to go into ownership -- or make that their ultimate goal -- when they have reached the level Posey did in a dozen years in the big leagues, but it has been done more often in basketball, where Michael Jordan owns the Charlotte Hornets, Dwyane Wade has bought into the Utah Jazz, and LeBron James has made it clear he would like to be part of an ownership group when his playing days are over. Alex Rodriguez even crossed over and is part of the new ownership group of the Minnesota Timberwolves.

 

In a way, Posey is following the path set by Derek Jeter, but with a twist. Jeter had a minority stake with the Miami Marlins before parting ways with the organization earlier this year. Posey returns to his former organization, becoming the first former Giants player to join the ownership group.

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"I feel deeply connected to the Giants and the San Francisco Bay Area and hope that my perspective as a former player will be beneficial in growing the game and assisting the organization to build the next championship team both on and off the field," Posey said. "I have always had such great respect for the ownership group, many of whom I've gotten to know through the years, who provided the support for me and my teammates to achieve the successes we did.

"I also believe that I can learn so much by surrounding myself with business leaders who have been at the top of their respective industries."

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