The Impact of Allowing NBA Players to Enter the Cannabis Industry

The NBA and the National Basketball Players Association have recently announced a tentative seven-year agreement that will allow players to promote, invest in and consume cannabis products. This is a monumental move for the league, as it marks the first time professional sports leagues have allowed such activities without penalty.

Overview of New NBA CBA Deal in Regards to Cannabis

The new agreement will remove marijuana from the NBA’s drug testing program and allow players to promote, invest in, and consume cannabis products legally. This is a significant shift for the league, which has previously penalized players who have tested positive for marijuana or been involved with cannabis sponsorships or businesses.

With this seven-year deal, the NBA allows its players to reap the benefits of medical and recreational cannabis use. Additionally, players can now sign non-gambling endorsement deals with sports betting companies. This is just one way the NBA is looking to protect its players while still ensuring they can make money off their talents outside of playing basketball.

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The potential impact of this new deal is yet to be seen, but it could have a major influence on players and teams. By allowing players the opportunity to promote, invest in and consume cannabis products legally, the NBA is creating an inclusive atmosphere for all athletes involved. It will also pave the way for other professional sports leagues to consider the same measures in their Collective Bargaining Agreements.

Background on Cannabis Use in Professional Sports

For decades, the use of marijuana has been a contentious topic among sports leagues. The NBA previously treated the substance as a banned drug and would suspend players who tested positive three times in a row.

However, in recent years leagues have been gradually easing their once-zero-tolerance attitudes toward cannabis. For example, the NFL donated $1 million last year to research pain management and cannabis, and Major League Baseball became the first professional sports league to sign an official cannabidiol sponsorship deal with Colorado-based Charlotte’s Web CBD in October 2020.

With this new agreement between the NBA and NBPA, it appears that professional sports leagues are finally recognizing the medicinal and recreational benefits of marijuana consumption for its players.

Former Professional Athletes Who Have Entered the Cannabis Industry

Since the new agreement between the NBA and NBPA was announced, many former players have voiced their support, including some who have already entered the cannabis industry. For example, former player Al Harrington has his own brand of marijuana products called “Viola.”

The former stars are not alone; other professional athletes from various sports have also gotten involved with cannabis businesses or investments. This includes NFL legend Joe Montana, an investor in cannabis company Caliva.

It appears that more professional athletes are beginning to understand both the medicinal and recreational benefits of marijuana consumption, as the stigma that has long been attached to it is slowly fading away.

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