NBA to Let Players Invest in Cannabis Industry and Promote Brands with New Deal
The NBA is giving players the option to invest in the cannabis industry under a new deal.
Cannabis is officially being removed from the National Basketball Association’s (NBA) banned substances list for players. Another slam dunk for cannabis is that the association plans to let those players promote and invest in cannabis companies (1).
The new seven-year agreement also plans to formally remove drug testing requirements for cannabis. For the past three seasons, the NBA has considered the testing requirement to be temporarily suspended.
“We decided that, given all the things that were happening in society, given all the pressures and stress that players were under, that we didn’t need to act as Big Brother right now,” Adam Silver, NBA Commissioner, commented on in the past. “I think society’s views around marijuana has changed to a certain extent.”
Details about the Collective Bargaining Agreement between the NBA and National Basketball Players Association will not be released until a term sheet is finalized.
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