THE WALL STREET JOURNAL: Fanatics Adds LeBron James, Kevin Durant as Partners in Sportswear Company

Company: AllCompany: Fanatics Commerce
Written By Seth Schlechter

Sports-merchandise giant Fanatics Inc. has expanded its ownership group in throwback-sportswear company Mitchell & Ness to include basketball stars LeBron James and Kevin Durant, Fanatics Chief Executive Michael Rubin said Tuesday at The Wall Street Journal’s Tech Live conference.

Mr. Rubin said he recently divested of his stake in the Philadelphia 76ers basketball team, which paved the way for him to partner with these athletes. “Professional and collegiate athletes make the Fanatics business,” said Mr. Rubin.

Fanatics bought Mitchell & Ness in February with a group of investors that included Jay-Z and Meek Mill. The deal was valued at $250 million. The ownership expansion also includes Kevin Hart, Chris Paul and James Harden, among other celebrities and athletes, the company said…

Seth Schlechter
Previous

SPORTICO: Fanatics Adds Ashford to C-Suite Role as Executive Hiring Spree Continues
Next

PHILADELPHIA INQUIRER: Phillies set a record for selling most championship series merch in 24 hours