The Ultimate Fighting Championship (UFC) has landed a multi-million-dollar sponsorship deal with Cannabidiol (CBD) product supplier Love Hemp. Although, the actual figures have not been disclosed by the Mixed Martial Arts (MMA) organization, reports suggest that it is a lucrative multi-million-dollar deal.
The five-year agreement that starts from June will enable the CBD and hemp producer to have access to the UFC’s physical and digital assets, including trademarks, logos and brand. Tony Calamita, chief executive and director of Love Hemp, said the partnership will help the company to “kickstart” and gain global recognition, that will allow the company to thrive.
Calamita said, “We believe that the marketing opportunities this relationship provides can put Love Hemp in the top tier of major international CBD brands. We intend to use UFC’s global reach to position Love Hemp as a trusted, premium CBD brand which we will begin to roll out globally over wider markets.”
This partnership could be a result of the organization’s previously announced long-term research partnership with Aurora Cannabis to assess the performance benefits of CBD in reducing pain and inflammation, and general recovery.
Love Hemp is just another partner to have signed up as a sponsor to the Mixed Martial Arts competition. In February, UFC struck a multi-year content deal with Migu, which sees the streaming subsidiary of China Mobile become the exclusive distributor in China for all live events from the MMA promotion.
UFC also penned a deal with Stake.com for the cryptocurrency casino to become its first ever betting partner in Latin America and Asia .Along with these various sponsorship deals, UFC recently agreed an expansive sports betting deal with DraftKings and a global content partnership with TikTok.