In case you missed it, professional players on teams in the National Basketball Association are getting a free and clear opportunity to take advantage of the cannabis industry through cannabis investments. As a former D-1 college athlete, I’m glad to see the NBA not only remove cannabis from its list of banned substances but also allow its players to get some of the upside from this (still) burgeoning industry. At the beginning of this month, the long form collective bargaining agreement (the “Agreement”) between the National Basketball Players Association (“Players Association”) and the NBA went into effect, and it will last for seven years. Here’s a copy of that agreement. Among the 600 plus pages of the Agreement is the entree for players to finally be able to invest in the cannabis industry, which is a major boon for cannabis investments.
Cannabis investment and NBA players
Section 20 of the Agreement lays out the do’s and don’ts of cannabis investments for the players:
. . . a player may hold a direct or indirect ownership interest (whether controlling or non-controlling) in an entity that produces or sells CBD Products, provided that (A) such entity does not also produce or sell
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