This week, Major League Baseball (MLB) became the first of four major sports leagues in the United States to sign a CBD sponsorship. The league has partnered with Charlotte’s Web, his CBD company in Colorado, for a multi-year deal that includes an MLB-branded product line.
According to MLB, the deal will provide “increased CBD visibility to professional athletes, millions of fans and communities.”
Charlotte’s Web CEO, Jacques Tortoroli, joined Finance to discuss partnerships, myths about cannabidiol (CBD), and how this deal is a true “game changer.”
“MLB’s decisions reflect what fans want today, especially staying calm under pressure, recovering after exercise, staying focused when it matters, and sleeping. We offer plant health options to support everyday mental wellness.With players playing 81 games a season and traveling seven months a year, we’re here to help you balance your mental and physical health. I really believe it’s very important to take,” Tortoroli told Yahoo Finance Live.
“I think this is a game changer for us, especially given all of the social platforms that have 180 million fans. , tell athletes and trainers what CBD is: it’s hemp, not marijuana.”
Charlotte’s Web is named after Charlotte Figi, a girl who had Dravet Syndrome and took CBD to prevent seizures. “It really brought life back to her and her family,” said Tortoroli, who died when she was 13. She was named after a medical cannabis strain called Charlotte’s Web. It made an impact.
Tortololi believes all other major sports leagues will eventually “get there.” No other major U.S. sports league has him on CBD deals, but there have been changes in the sports world when it comes to cannabis. The NBA has stopped testing for cannabis in 2020. The NHL does test cannabis, but there are no penalties for cannabis use.
CBD partnerships could grow within MLB as well. Tortoroli said individual baseball teams can follow the league’s base path as well as individual players. “I strongly believe that an influencer is not only a paid spokesperson, but someone who is trustworthy, authentic and uses the product.”
Dave Briggs is the anchor for Yahoo Finance Live. Follow him on Twitter. @davebriggstv.
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