corporations
USA: Charlotte's Web will sponsor the Baseball League
A Major League Baseball, America's first professional baseball league signed a sponsorship deal with Charlotte's Web, which will become the main sponsor of the competition. In addition, Charlotte's Web will develop a line of CBD products targeted at athletes, which will also be “the official CBD of the MLB”.
Major League Baseball (MLB) is the first sports league to sign a sponsorship deal with a hemp-operating company. This could be one of the first repercussions of US President Joe Biden's announcement. Charlotte's Web, which was founded by the Stanley Brothers, will officially sponsor the league for years to come, in an agreement that was announced by Sports Business Journal.
BREAKING: @MLB becomes the first big-league sports property to have a CBD sponsor.@charlottesweb has signed a sponsorship deal with MLB, designating it the “Official CBD of Major League Baseball.”
⬇️ More from Terry Leftonhttps://t.co/TjZd0wZIjI pic.twitter.com/oTEM093jlI
—Sports Business Journal (@SBJ) October 11, 2022
The MLB thus becomes the first major league to have a cannabis company as its sponsor, where Charlotte's Web is designated as “the official CBD of the MLB”. The disclosed deal includes the league's exclusive rights and covers this year's postseason as well as the next three years.
The MLB opened up to CBD producing companies the possibility of sponsoring the league and clubs last June. Charlotte's Web had previously sponsored the NWSL's Angel City FC club.
According to the data released, Charlotte's Web will also launch, through its own platform, a sports line of CBD-based products and will include the MLB logo on the packaging. In addition, the brand will advertise in electronic media during the playoffs and World Series and is planning a campaign during the World Series draws.
non-traditional business
According to the Sports Business Journal, the way the deal was carried out caught the attention of analysts. The “non-traditional” business structure was carried out not only by charging a fee for the rights, but also including a profit sharing. Allegedly included in the terms of the agreement are transfers of shares from Charlotte's Web Holdings Inc. (CWBHF) (CA:CWEB) to MLB, which will enter the capital of the company traded on the Toronto Exchange.
____________________________________________________________________________________________________
[Disclaimer: Please note that this text was originally written in Portuguese and is translated into English and other languages using an automatic translator. Some words may differ from the original and typos or errors may occur in other languages.]____________________________________________________________________________________________________
What do you do with €3 a month? Become one of our Patrons! If you believe that independent cannabis journalism is necessary, subscribe to one of the levels of our Patreon account and you will have access to unique gifts and exclusive content. If there are many of us, we can make a difference with little!
I am one of the directors of CannaReporter, which I founded together with Laura Ramos. I am from the unique Island of Madeira, where I currently reside. While I was in Lisbon at FCUL studying Physical Engineering, I became involved in the national hemp and cannabis scene and participated in several associations, some of which I am still a member of. I follow the global industry and especially legislative advances regarding the different uses of cannabis.
I can be contacted by email at joao.costa@cannareporter.eu
There are already more than 53,000 peer-reviewed scientific articles on cannabis published in PubMed.
Reading Time: 2 minutes. Scientific studies involving cannabis are consistently increasing year after year, and yet another...
South Africa officially sets a 2% THC limit for industrial hemp.
Reading Time: < 1 minute South Africa has announced the entry into force of the new Plant Improvement Act, which updates...
Portugal: Several raids by the Judiciary Police and ASAE, supported by the DGAV, result in the arrest of several farmers and traders in the hemp sector.
Reading Time: 8 minutes. Several teams from the Polícia Judiciária (PJ) and the Autoridade de Segurança Alimentar e Econômico (ASAE) are...
New Zealand eliminates licensing requirements for growing industrial hemp: "Simplifying bureaucracy so that the hemp sector can flourish," says the government.
Reading Time: 5 minutes. New Zealand is today taking a decisive step towards modernizing the legal framework for industrial hemp, with...
Cronos Group acquires CanAdelaar, the largest producer of adult-use cannabis in Europe, and enters the regulated market in the Netherlands.
Reading Time: 2 minutes. Canadian cannabis producer Cronos Group has announced an agreement to acquire all of...
Weed.de partners with 187 Strassenbande and Marry Jane
Reading Time: 2 minutes BERLIN, GERMANY – [November 27, 2025] – Weed.de (“Weed”), a digital information platform about...
Portugal: CannPrisma recovers all licenses from Infarmed.
Reading Time: 2 minutes. CannPrisma has today regained all licenses from Infarmed — the National Authority for Medicines and Health Products...
Bedrocan supplies cannabis flowers with 25% THC to the German market.
Reading Time: 2 minutes. Bedrocan has just released a version of its 'Bedrocan' cannabis flowers with 25% THC....
A report by ICAD reveals that daily cannabis consumption among young people in Portugal is less than 1%.
Reading Time: 6 minutes The Institute for Addictive Behaviors and Dependencies (ICAD) published on December 2nd...
Cannabis has already generated more than $5,4 billion in tax revenue for Canada since 2018.
Reading Time: 3 minutes. Canada has already collected more than 5,4 billion Canadian dollars in tax revenue since...
