Major League Baseball to Allow CBD Sponsorships
High Times

The MLB stated in a conference call on June 21 that CBD is now an “approved category” which means that teams are now allowed to sell CBD sponsorships as long as the brand has received an NSF certification (a verification that a product has no THC). According to Sports Business Journal, MLB Chief Revenue Officer Noah Garden explained the reason for the change. “We’ve been watching this category for a while and waiting for it to mature to the point where we can get comfortable with it,” said Garden. “We told the clubs if you want to do a deal in the CBD category, it will require two things: One is NSF certification—and none of them are there yet, although around three to five [brands] are in process. The other is to get approval from the commissioner’s office…Our fans are very much the kind of customers they are looking for, and we like being first. It’s a good opportunity for us and the clubs. The last few companies that came to see us about this, the process of NSF certification was embraced. That gave us a comfort level to be able to move forward.” Recently, analysts shared that CBD could generate up to $4.9 billion across the globe in 2022, with a projection of reaching $47 billion by 2028. The MLB “patch program,” which began in March 2022, allows each team to feature a brand and logo on their team uniforms for on-field players. The San Diego Padres was the first team to embrace this new sponsorship by partnering with Motorola. With this in mind, Garden added that a CBD brand could possibly be featured in a patch deal too. “We are open-minded to doing a patch deal here, depending on the brand and what that brand represents,” Garden said.…

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