What happens when the $9.1 billion sports recovery market meets CBD…
If 2019 was the “Year of CBD,” it was also the year that athletes and cannabis companies realized that a golden opportunity is in front of them.
Athletes are turning to CBD to help them relax after a big game, and it is also being used to help relieve aches and pains.
With the sports recovery market expected to be worth $9.1 billion and the CBD market expected to be worth $20 billion by 2024, the convergence of CBD and sports recovery solutions is more than just a trend.
As just one example, Canopy Growth Corp. (NYSE: CGC) bought a majority stake in BioSteel Sports Nutrition, which is a major win for Canopy.
National Football League (NFL) running back Ezekiel Elliott is a brand ambassador for BioSteel’s current lineup of non-CBD products, which will give Canopy great exposure the minute he’s allowed to drink a CBD-infused sports drink.
And that’s why, over the last 12 months, I’ve been keeping you ahead of the curve.
From our exclusive interviews with athletes and reports at the National Institute for Cannabis Investors, you know that this is a trend that is bringing more attention to the CBD market – which will help increase sales, make companies more money, and make your shares more valuable.
Athletics + CBD = Huge Opportunity
One of our first interviews this summer was with Caleb Simpson, an ultra runner who operates a CBD business in Texas.
For those of you who don’t know, ultrarunning involves running more than a standard marathon length, which already clocks in at 26.2 miles.
As you can imagine, that can take quite a toll on the body!
Caleb talked to us about his efforts on educating the sports community about CBD and, if you have ever wanted to become a cannabis entrepreneur, you can’t afford to miss what he shared about starting a cannabis business.
Rachael Rapinoe: Soccer Star, Entrepreneur, and CEO of Mendi
There were a lot of athletes getting involved in the CBD space this year, but someone at the top of my list to interview was Rachael Rapinoe.
Rachael played professional soccer before launching her CBD business (Mendi), and her twin sister Megan – who helped lead the United States to victories in the 2015 and 2019 FIFA Women’s World Cup – is a brand ambassador for the company.
Rachael suffered a few injuries during her time as a professional player, and she was very frank with The Institute that she was a little scared of trying cannabis-based medicine.
“I felt like a new person. After using CBD consistently for several years now, I’m able to focus for much longer periods of time, I feel calmer, less anxious/stressed, and feel much better post-workout. It’s become a part of my daily supplement regimen.”
A month after our first interview, I caught up with Rachael to see what was new at Mendi and to take a deeper dive into her thoughts about the future of the cannabis industry.
The Kevin Durant & Canopy Rivers Collaboration
As you know, Canopy Rivers Inc. (OTC: CNPOF) is the investment and operating arm of Canopy Growth.
While it invests in public companies, it also invests in private companies. By owning shares of Canopy Rivers, you also own shares of private firms.
So, when we heard Kevin Durant, a superstar in the National Basketball Association (NBA), was getting involved in the company through his venture capital (VC) firm Thirty-Five Ventures, we were thrilled.
With such a high-profile athlete in its corner, Canopy Rivers has the potential to achieve much more than just a boost in name recognition.
MLB Paves the Way for Cannabis Reform in Professional Sports
In a major victory for cannabis reform advocates, Major League Baseball (MLB) and its union have agreed to officially remove cannabis from its list of banned substances.
Previously, the league did not test major leaguers for cannabis unless it had evidence a player was using it, but it did randomly test minor leaguers.
As recently as 2015, a promising minor leaguer received a 50-game suspension for a positive test result for THC.
Under the new policy, the league simply won’t test for cannabis.
Instead, the league will add opioids to its list of drugs to test for. As was the case with cannabis, the league will only test for opioids in major leaguers when it has some evidence that the drugs are being misused.
And now, other professional sports leagues may be looking to follow suit.
In fact, MLB’s rule change has already prompted America’s favorite professional sports league to reconsider its stance on the use of cannabis.
The story of the sports recovery market converging with cannabis-based medicine is still developing, but it’s a positive movement.
It’s positive for athletes who can use cannabis-based medicine instead of opioids.
It’s positive for the companies selling CBD to be able to partner with trusted figures.
As more people are educated, it might be just enough to make them a believer that every adult should have the choice to decide whether they want to partake in the use of cannabis.
So, we press on.
2020 is almost here, and I’m glad you’re with us for this journey.
Be safe, enjoy spending time with your friends and family on New Year’s Eve, and we’ll talk soon.
Executive Director, National Institute for Cannabis Investors
P.S.– Hi folks, Tom Gentile here. I just want to take a quick second of your time. And, if you hear me out, I think you’ll agree it will be well worth your time. You see, I’ve uncovered an extraordinary new cannabis profit stream. I’m not talking stocks, IPOs, or Angel investing. I’m talking about an entirely NEW way to make money in this industry. With new plays coming every week, this is the biggest win-win opportunity I’ve ever seen. Check it out for yourself before you take my word for it… But I’m confident you’ll see that what’s at stake here is too good to ignore.
6 responses to “2020 Ushers In the Convergence of Athletes and CBD”
December 30 2019