U.S. Major League Soccer Seeks A New Commercial Revenue With CBD Sponsorships
Major League Soccer (MLS) is set to introduce a new commercial revenue opportunity by opening up CBD as an approved sponsorship category, according to Sports Business Journal.
As a rule, CBD partnerships are not accepted by any US major sports property. This includes MLS as well. However, it has emerged that there is a chance that the North American soccer league’s board of governors might make some changes before the 2020 season comes to a finish. It is not yet clear whether CBD branding would be allowed on kits and other areas. It is also not sure whether companies selling THC products would be permitted to advertise CBD via MLS franchises.
MLS now offers a greater variety of options. In 2019, we saw franchises were allowed to market sponsorships in the betting and spirits categories. This year, international partnerships are set up as well. Initially, the San Jose Earthquakes had a deal in place with a CBD company for the naming rights of their stadium, but with the entry of the MLS, the deal did not go through. In the United Soccer League (USL), the Las Vegas Lights signed an agreement in 2018 with the NuWu Cannabis Marketplace to have a dispensary set up at the Cashman Field stadium.
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