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Michael Rubin Rumors

Rubin has already succeeded in partnering with stars from other leagues, such as Tom Brady, who, Rubin said, is an investor in Fanatics. But Rubin felt he had reached the point where his ownership stakes in professional sports teams were holding both him and his company back. “When we first bought the Sixers, Fanatics was only in the merchandise business. Now we have the trading card business and the gambling business,” he said. “By the end of the year, we’ll have individual contracts with thousands of players, and I’ll be taking bets on the Sixers.”
“Michael’s commitment, passion and business acumen have greatly benefited the 76ers and the NBA,” NBA commissioner Adam Silver said in a statement provided to FOX Sports by the league. “But Fanatics’ opportunity to build a global digital sports platform by moving into new and emerging businesses makes team ownership impractical for now. I look forward to continuing to work closely with Michael on expanding Fanatics’ partnership with the league.”

Michael Rubin to sell 10% share of 76ers ownership

Entrepreneur Michael Rubin is selling his 10 percent share in Harris Blitzer Sports Entertainment — which owns the Philadelphia 76ers and New Jersey Devils — as his sports retail behemoth Fanatics reaches new athlete deals and begins a new gambling and betting division that interfere with the leagues’ team ownership rules.
Fanatics developed into a sports-merchandising giant and has turned into a global business, now including deals with individual players across the pro leagues within the company’s new trading card and collectibles business. Fanatics will soon launch a gambling vertical as well; another factor as to why the business became a conflict for Rubin as he served as an NBA and NHL team owner.