Major League Baseball became the first major sports league to sign a sponsorship deal with a CBD company via an exclusive multi-year deal with company Charlotte’s Web on Wednesday.
The deal, which spans three years and is worth $30.5 million, means fans can expect to see products promoted on the league’s social media and in games, including postseason games such as the World Series. Fans can also see the products advertised on streaming channels.
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“We are excited about the possibilities this partnership offers as CBD becomes a more widely adopted part of the health and wellness regimen of our players and fans,” the league said in a press release.
The company manufactures gummies, pills, tinctures, and topical sprays that include CBD, which is one component found in Marijuana and does not give the user a high. The company’s products have helped customers stay calm, maintain focus, sleep better, and recover from injuries and exercise.
Charlotte’s Web unveiled its own MLB cannabis tincture on Wednesday, which bears the league’s logo on the bottle. The substance, called the MLB Sport-Daily Edge Broad Spectrum Hemp Extract Tincture, includes “Charlotte’s Web premium hemp extract, carrier oil, and flavor,” according to its website.
“We applaud MLB for being the first-mover in professional sports CBD and are thrilled to welcome their league as a respected strategic partner,” Jacques Tortoroli, CEO of Charlotte’s Web, said. “Bridging our industry-leading brands with science, innovation, and education, this pioneering partnership validates Charlotte’s Web’s core business principle and founding mission to open access to safe, quality, and consistent CBD through our proprietary hemp genetics and industry-forging vision.”
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The league opened the category for CBD products in June, allowing sponsorships with CBD companies that are NSF Certified for Sport. NSF certification means the products go through “rigorous quality testing” to gain approval for athletes. The Food and Drug Administration has not certified CBD substances for sports use.
MLB removed CBD from its banned drugs list in 2019, but the league still tests players for opioids, fentanyl, cocaine, and THC, the part of marijuana that gives users a high.
