MLB ended its 70-year relationship with Topps yesterday, awarding the next trading card deal to Fanatics.
Topps was allowed to match the deal, but with Fanatics worth 14x more, they couldn't.
Now, Murdick Capital & Topps have mutually agreed to terminate their SPAC agreement.
Topps was allowed to match the deal, but with Fanatics worth 14x more, they couldn't.
Now, Murdick Capital & Topps have mutually agreed to terminate their SPAC agreement.
Fanatics is on a mission to take over the sports world.
They just raised $325 million at an $18 billion valuation & are reportedly interested in sports betting, trading cards, NFTs, ticketing & media.
Their database of 80M customer accounts (+10m annually) will certainly help.
They just raised $325 million at an $18 billion valuation & are reportedly interested in sports betting, trading cards, NFTs, ticketing & media.
Their database of 80M customer accounts (+10m annually) will certainly help.
I wrote some thoughts on the sports betting piece earlier this week: huddleup.substack.com/p/the-newest-s…
Interesting note...Michael Rubin hired Josh Luber to run the Fanatics trading card business.
Josh co-founded StockX with Cavs owner Dan Gilbert in 2015, was the CEO until 2019 & stepped down after the company reached a $1 billion valuation.
Trading cards appear to be next.
Josh co-founded StockX with Cavs owner Dan Gilbert in 2015, was the CEO until 2019 & stepped down after the company reached a $1 billion valuation.
Trading cards appear to be next.
The other piece of this is equity.
Not only has Fanatics made the NFL & MLB hundreds of millions of dollars on their equity stake in the company, but MLB & MLBPA will also have an equity stake in the new trading cards business.
Incentives have been aligned, again.
Not only has Fanatics made the NFL & MLB hundreds of millions of dollars on their equity stake in the company, but MLB & MLBPA will also have an equity stake in the new trading cards business.
Incentives have been aligned, again.
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