Scottish Premiership football club Hamilton Academical has finalised a deal for HopeCBD, a company that uses cannabis plants to produce various products, to acquire the naming rights to its New Douglas Park stadium.
Terms of the agreement were not disclosed, but the club said the deal is worth a “five-figure sum”.
New Douglas Park will now be renamed as the HopeCBD Stadium.
The club has attracted criticism from some quarters over its decision to enter into an agreement with a company related to cannabis. HopeCBD’s products contain cannabidol (CBD), a non-psychoactive compound found in the hemp plant that is part of the cannabis family.
However, Hamilton has hit back by saying that the deal is “very much within the ethos” of the club and represents a “positive and progressive partnership”.
“The very word ‘cannabis’ strikes the concerns of law breaking and addiction issues, but the facts surrounding CBD are much different,” Hamilton said in a statement on its website.
“The hemp plant goes through what is known as ‘full spectrum CO2 extraction’ and is then further distilled to remove psychoactive elements that are found within the plant – THC.
“It is the removal of this compound, leaving many other cannabinoids, particularly CBD that makes the products 100 per cent non-psychoactive or addictive, meaning consuming it results in no mind altering effects – like alcohol-free lager as such.”
The deal comes as the UK government last week announced it will introduce new laws to allow specialist doctors to legally prescribe cannabis-derived medicinal products. The new laws are due to come into effect from the autumn.
The club added: “It is well known that Hamilton Academical Football Club are great ambassadors in supporting people and families in recovery from many addictions and are active in reaching out to the community to help those in recovery.
“The sponsorship with HopeCBD is very much within the ethos of Hamilton Academical Football Club and we are proud to be at the forefront of positive and progressive partnership with CBD providers such as Hope CBD.”