Major League Baseball will promote products from cannabis company Charlotte's Web during games and on its social media platforms under a $30.5 million partnership between the organizations.
. The company must also pay MLB a 10% royalty on any products it sells that has MLB branding on it after the total sales exceed $18 million.
In a statement, MLB Chief Revenue Officer Noah Garden said the deal makes CBD"a more widely adopted part of the health and wellness regimen of our players and fans." Hemp-derived CBD generated U.S. sales of $4.7 billion last year, up 2.5% from 2020, and is expected to reach $12 billion by 2026, CBD is not the same thing as marijuana, but is a single
found in the plant. Unlike THC, another component found in cannabis, CBD does not give users to experience a"high."in 2019, making it the first U.S. sports league to do so. The league still tests players for opioids, Fentanyl, cocaine and synthetic Tetrahydrocannabinol, or THC. In June, the league authorized teams to seek partnership deals with CBD companies.
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