The BIG3 basketball league announced the completion of an exclusive agreement with cbdMD, a Level Brands (NYSE: LEVB) company, to become the official CBD partner of the league when its third season begins in June.
The partnership is the latest CBD-centric move by the 3-on-3 half-court basketball league, which authorized the use of CBD during its 2018 season.
"Last year, BIG3 became the first professional sports league in the U.S to allow players to use CBD for pain treatment and recovery," said league co-founder Jeff Kwatinetz. "We did this out of compassion for our guys because CBD can help them without enhancing their performance or having an intoxicating effect. It's a win-win."
Under the terms of the agreement, cbdMD will become the exclusive jersey patch on the front of all 12 BIG3 teams this season.
The league will open its third season with four new teams, expanding from eight, and will see its games broadcast on CBS Corporation (NYSE: CBS) and CBS Sports Network. This year's season will also see the league visiting 18 cities, up from last season's 10.
"Today is a monumental day for cbdMD, as we continue to add to our list of firsts within the CBD category," said Ken Cohn, Chief Marketing Officer at cbdMD. "Our BIG3 partnership will deliver a massive level of cbdMD brand exposure throughout the summer on CBS and CBS Sports Network, and allow us to reach a large, strategic demographic of consumers."
CBD Vs. THC: The Science Behind The Most Popular Cannabinoids
LeBron's Move To Los Angeles: What It Means For Nike, Adidas And Puma
See more from Benzinga
- Aurora Cannabis, EnWave Strike Global Licensing Deal
- New Age Beverages, Marley Family Extend Licensing Deal For 10 Years
- High-Potency CBD Demand Grows While Cost, Regulations Remain A Concern To Some
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.