MLB now has a CBD sponsor, and is the first big-league sports property to do so. Charlotte’s Web has signed a sponsorship designating it the “Official CBD of MLB.” Under the deal, which includes exclusive category rights and covers this year’s postseason, plus an additional three years, Charlotte’s Web is launching, via its own e-commerce, a Sport line of CBD products, which will carry MLB’s familiar silhouetted batter logo. Additionally, the brand will run electronic signage during the playoffs and World Series, and is planning a World Series sweepstakes promotion. Sources called the structure of the deal non-traditional, with a rights fee, plus a revenue share. Under terms of the deal, MLB is also receiving shares in Charlotte’s Web Holdings, traded on the Toronto Exchange.
MLB opened CBDs in June as a sponsorship category for the league and its clubs, with the proviso that products seeking league or team sponsorship rights must be NSF-certified. Charlotte’s Web, which had previously done a sponsorship with NWSL club Angel City FC, has received that certification.
Now the questions are which leagues will follow MLB’s lead by permitting CBD sponsorships and how meaningful the CBD category will be across sports. UFC signed its first CBD deal with Aurora in 2019. Its current five-year sponsorship with Love Hemp is one of the MMA circuit’s top 10 sponsorships. “There’s opportunity across sports,” said UFC SVP/Global Partnerships Paul Asencio. “I don’t think every team will have a (CBD) partner, but probably every league will. It’s just a really good connection and marketing platform, because professional athletes are using these products and will continue to.”
