MLB News: League To Allow CBD Companies to Sponsor Jersey Patches
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Corporate sponsor jersey patches will be coming to major league baseball. It's happening, much to the chagrin of fans. Major League Baseball approved sponsorship jersey patches in the last CBA (remember the lockout?) and the implementation is expected to bring in new revenue. Professional sports teams don't often turn down new revenue.
Teams can wear jersey patches as soon as the 2023 season, which will inevitably include the Dodgers. Sorry folks, it's going to happen.
In an intriguing turn of events, MLB recently approved sponsorship patches for cannabidiol, more commonly known as CBD. In order to get approval by the league, a brand needs to be certified by the National Sanitation Foundation (NSF) according to the Sports Business Journal. The report also stated that the brands cannot feature "psychoactive levels" of THC in their products to qualify.
MLB isn't alone in adding sponsorship patches to their jerseys. The NBA has had them for a couple of. years and the NHL will be adding them next season, same as the majors. Apparently, CBD companies will also be allowed to air commercials during games as part of the approval.
The Sports Business Journal believes that the CBD market does about $5B in business annually.
