The NBA recently clarified on the new CBA agreement between players and the league that will allow players to be involved with cannabis companies but still blocks them from launching their own THC brands or promoting others until 2029.
This new agreement has been seen as an important step for the league and its players in allowing athletes to explore opportunities in the CBD and cannabis industries. Even though the prohibition on launching their own brands in regard to THC is still in effect, players can still hold a passive, non-controlling interest in a company that makes THC products. This new agreement signals an openness to exploring the potential benefits of such involvement.
This could mean anything from investments and endorsements to advice on product development or marketing campaigns — all of which can provide valuable insight into the industry for both athletes and businesses alike.
The NBA’s acceptance of CBD, however, is different under the new seven-year labor agreement. Players are allowed to promote and invest in companies that contain CBD, which comes as more people begin to look at it as a health supplement. The compound has been dropped from the World Anti-Doping Agency’s list of banned substances, even as marijuana remains.
Scientists are studying whether or not it can help with anxiety, inflammation, and pain. The NBA’s willingness to allow athletes to explore the potential benefits of cannabis is a sign that the league is ahead of the curve on this issue.
Furthermore, this decision also allows NBA players to be potential leading faces of the cannabis movement, which is growing in popularity as more people look to it for potential health benefits.
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