FLOWERY BRANCH – It didn't take long for Warrick Dunn to start living the life of an NFL owner.

After finishing a round of golf at the Tampa Palms Golf and Country Club in Tampa, Dunn admitted in a phone interview to an "up and down" round because of all of the calls and text messages he was receiving.

Dunn has made his last run, from the football field to the ownership suite, as he became the latest minority stake owner in the Atlanta Falcons.

"How many players have this opportunity, as soon as you retire to become an NFL owner?" Dunn, a running back who played for the Falcons for six seasons, said Thursday. "I don't really think that happens often. I'm truly honored."

Dunn's purchase was approved Wednesday, and the deal is expected to be completed by March 1, according to the Falcons.

The deal makes Dunn the fifth person to buy a minority stake in the Falcons since July. Arthur Blank also sold shares to Ronald E. Canakaris, Douglas J. Hertz, Ed Mendel and Derek V. Smith in July. John P. Imlay Jr. and John A. Williams were previously minority stake owners.

Blank bought the Falcons for $545 million in 2002. Blank said then he would retain 90 percent control and has no plans to sell the team.

"I cannot disclose the terms," Dunn said. "That's part of the agreement. I really can't talk about that. But let's just say this, when you invest in something like this, you still need to make money, so I need to go get a job. But it's a good thing."

Dunn, who played sparingly last season for Tampa Bay, had originally thought about continuing his career. But as reality set in, he started moving on to the next phase in his life.

Dunn, who will turn 35 in January, hasn't sent in his retirement papers to the league office, but he will in the near future.

"You can't be an owner and player," Dunn said.

The news that Dunn was an owner was cheered loudly in the locker room.

"That's sweet," wide receiver Roddy White yelled. "I love that guy. ... That speaks volumes, too. That means he has money. That means he actually saved his money."

Wide receiver Michael Jenkins said, "I think everybody loved him. He's well respected around the league."

Dunn and Blank developed a bond.

“During his tenure with the Falcons and throughout his NFL career, Warrick represented the highest of NFL standards on and off the field,” Blank said in a statement. “Warrick has a special affinity for the Falcons, as we do for him, and we are very happy he will be back in the Falcons family representing our club as a limited partner.”

Dunn is not clear what role he will take on as an owner.

"I look forward to being around the game that I played for so long, I grew up with and was a part of," Dunn said. "I definitely want to help the younger players if they need advice."