After 11 years, Michael Rubin will step back from his role as part-owner due to growing conflicts between his Fanatics business and the two franchises
, said he is divesting his stake in the NBA and NHL franchises after 11 years because of arising conflicts between his growing Fanatics business and the two sports teams.
“As our Fanatics business has grown, so too have the obstacles I have to navigate to ensure our new businesses don’t conflict with my responsibilities as part-owner of the Sixers,” Rubin said in a statement posted on Twitter.
“Given these realities, I will sadly be selling my stake in the Sixers and shifting from part-owner back to life-long fan.” Fanatics is a $20 billion-plus company that sells licensed professional and college merchandise online. The expansion into sports betting and individual partnership deals with pro athletes creates numerous conflicts with each league’s collective bargaining rules.
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