Buster Posey, who won three World Series titles as a catcher during his 12 seasons with the San Francisco Giants, will become the first former player to join the team's ownership group, it was announced Wednesday.

"Upon his retirement last year, Buster said that he would always stay involved with the organization, and when he approached us to express his interest in joining the ownership group, we were thrilled that he wanted to make this type of commitment," Giants chairman Greg Johnson said. "It is rare for a former player to join his own team's ownership with the desire to have an active role."

Posey, 35, was a seven-time All-Star, including in his final season, when he hit .304. He joins Pete Rose as the only other player in MLB history to win Rookie of the Year (2010), MVP (2012) and three World Series rings (2010, 2012, 2014).

"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 via a statement. "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."

Posey becomes the 31st principal partner -- and the youngest -- of the San Francisco Baseball Associates LLC ownership group.

He became just the fifth Giants player to play his entire career with the franchise, finishing with exactly 1,500 big league hits and 158 home runs. He caught three no-hitters, tied for third most in league history. He's one of eight catchers ever to be selected to five All-Star Games, win an MVP and win at least one World Series title. Five of the other seven are in the Hall of Fame.