Ferrell will perform with the bluegrass rockers at the iconic venue on September 16.
The Saskatchewan cowboy confirmed in a social media video that he would also be running a series of merchandise campaigns to help fund his friend's recovery.
The new venture has announced Chandler Walters, Cody Lohden and Rafe Tenpenny as its first signings.
Watkins and Palmer represent two of Big Loud's most exciting prodigies, with the latter having recently signed a recording contract with the label.
The iconic country band is set to play six shows at Zappos Theater in May.
Palmer signed to Big Loud's publishing division back in 2019, but now he's preparing to put out his first record as a recording artist.