Mike Tyson has his sights set on conquering the legal marijuana market.
The former boxing heavyweight champion broke ground last week on a facility in the California desert that will grow high-quality weed, it was reported on Tuesday.
The Tyson Ranch is slated to take up 40 acres of land in California City, just 60 miles southwest of Death Valley, according to The Blast.
Half of the land will be used to cultivate cannabis in a way that ‘will allow master growers to have maximum control of their environment.’
The facilities will also include a Tyson Cultivation School designed to teach growers the latest methods in cannabis production.
Tyson is reportedly a believer in the medicinal and healing qualities of marijuana.
Mike Tyson (seen left this past November and right during his fighting career) broke ground last week on a facility in the California desert that will grow ‘high-quality’ marijuana
The Tyson Ranch is a business venture that looks to capitalize on the newly legalized trade of recreational marijuana in California
That is why his ranch will also seek to advance research into the potential benefits of medicinal marijuana, specifically CBD.
The cannabis compound CBD is said to have no psychoactive properties. It has been used in the past to treat inflammatory ailments.
Studies suggest it also functions as an antioxidant, anticonvulsant, and antipsychotic agent.
According to The Blast, the company which will run the ranch, Tyson Holistic, will focus on treating men and women who have suffered from psychological ailments during their military service.
The ranch’s location not far from Edwards Air Force Base will make it easier to provide jobs to military vets.
The business venture will seek to capitalize on the legalization of recreational pot in the Golden State, which went into effect on New Year’s Day.
It becomes the sixth US state, and by far the most populous, venturing beyond legalized medical marijuana to permit the sale of cannabis products of all types to customers at least 21 years old.
Tyson has teamed up with business partner Robert Hickman, Jay Strommen, and California City Mayor Jennifer Wood.
The Tyson Ranch stands to make quite a fortune if current trends continue.
According to Fortune, sales of legal marijuana in North America approached $10billion in 2017, a 33-percent improvement over the previous year.
With California’s entry into the legal cannabis market, sales could reach an estimated $24.5billion by 2021, analysts told Forbes.