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USA: Charlotte's Web will sponsor the Baseball League



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Photo: DR | boardroom

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.

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.


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