A license to legally sell cannabis in California was once a coveted item, with some selling for millions of dollars. But now, as the California market’s struggles have left some pot licenses effectively worthless, that exuberance has turned into gloom.

Case in point: One cannabis company is offering its retail license in the Southern California city of Oxnard for “free” to anyone who will assume responsibility for paying the lease on the retail location, which has not yet opened for business. The listing still prices the license at $35,000, but broker Meilad Rafiei confirmed to SFGATE the seller is willing to walk away without getting any cash.

“From day one I was telling [the license holders], I don’t know if there’s any value here,” Rafiei........

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