Major league baseball signs first sponsorship deal with CBD company
BNN Bloomberg
Major League Baseball signed an exclusive multiyear sponsorship deal with CBD maker Charlotte’s Web Holdings, which it says is the first of its kind for a major professional sports league.
Charlotte’s Web is now the first “Official CBD of Major League Baseball,” the parties said Wednesday in an emailed statement. Products that meet certain safety standards will be able to be promoted across MLB events and media platforms.
CBD, or cannabidiol, is a non-psychoactive compound found in marijuana. U.S. spending on CBD oils, gummies and pills has grown rapidly in recent years, even though the compound’s federal legal status is murky.
For baseball, the sponsorship pact could be an opportunity to increase the sport’s popularity with a younger audience. The league’s fan base is among the oldest for professional U.S. sports.
