NBA Rumors: New CBA Allows Players to Invest in Teams, Sports Betting, Cannabis
![NBA Rumors: New CBA Allows Players to Invest in Teams, Sports Betting, Cannabis](/img/li/nba-rumors-new-cba-allows-players-to-invest-in-teams-sports-betting-cannabis-1.jpg)
The new collective bargaining agreement between the NBA and NBPA, which was approved Friday, will reportedly allow players to make some brand-new investments, per Shams Charania of Stadium and The Athletic:
Shams Charania @ShamsCharaniaGame changer: The league's new collective bargaining agreement will give players the ability to invest in NBA and WNBA teams, as well as promote and/or invest in sports betting and cannabis companies, sources tell @TheAthletic@Stadium.
Those investments signal a seismic shift in the professional sports landscape, where marijuana was outlawed for years and sports betting was seen as a mortal sin.
But the legalization of both in the United States has led to a changing of times.
Marijuana has notably been removed from the NBA's anti-drug testing program as part of the new CBA, per Charania:
Shams Charania @ShamsCharaniaSources: NBA players will no longer be prohibited for marijuana under the new seven-year Collective Bargaining Agreement. It's been removed from the anti-drug testing program, a process that began during 2019-20 season.
DraftKings and FanDuel have as the NBA's official sports betting partners as of Nov. 2021.
The new CBA will run through 2029-30 unless either side opts out after 2028-29. The agreement also includes the introduction of an in-season tournament, positionless All-NBA teams and a new luxury-tax level.