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Fanatics Teams Up With Jay-Z, Meek Mill, And Lil Baby To Acquire Mitchell & Ness

Phyllis Coley @phyllis_coley
FANATICS
Mitchell & Ness, which was founded in 1904, is a leading shopping destination for throwback sports jerseys and various licensed lifestyle and fashion products.

Licensed merchandise giant Fanatics officially acquired staple lifestyle brand Mitchell & Ness from previous owner Juggernaut Capital Partners on Friday (Feb. 18). Michael Rubin, chief executive of Fanatics, teamed up with a host of famous faces for the deal, including rappers Jay-Z, Meek Mill, and Lil Baby, as well as social media celebrities the D’Amelio family.

Florida-headquartered Fanatics will own 75 percent of Mitchell & Ness, with the remaining investors owning approximately 25 percent of the company. According to The New York Times, the deal is worth $250 million. 

Mitchell & Ness, which was founded in 1904, is a leading shopping destination for throwback sports jerseys and various licensed lifestyle and fashion products. The company also has several deals with the NBA, NFL, MLB, MLS, and various NCAA schools.

Michael Rubin, chief executive of Fanatics, and Jay-Z.

“Fashion is cyclical, but classics are forever,” Jay-Z said in a statement. “Mitchell & Ness is a true classic. I was an early adopter of this brand, as well as a part of a departure from athletic wear. I’m proud to play a small role in bringing it back, and in some cases, introducing the authenticity and quality of the Mitchell & Ness brand to a new generation.”

“Mitchell & Ness is an iconic brand and pioneer within our industry,” Rubin added. “I’m incredibly excited for Fanatics to partner with this incredible group of innovative owners to build upon the company’s already strong business that has kept the brand culturally relevant for more than 100 years. Growing up as a kid in Philadelphia, we looked at Mitchell & Ness as a badge of pride, and I truly believe this legendary brand has no limit.”

Current Mitchell & Ness CEO Kevin Wulff will remain in the same position and report to the president of Fanatics, Joe Bozich, as part of the new deal. All 132 Mitchell & Ness employees located in Philadelphia, Irvine, Cal., and select international markets will also immediately transition over to Fanatics but remain in their present locations.

Buying Mitchell & Ness signals the latest effort from Fanatics to grow its sporting empire. Fanatics said the acquisition would expand its capabilities across elevated product categories that appeal to a broader market, highlighting Mitchell & Ness’ experience in street fashion, nostalgic authentic, and other culturally relevant product categories. The company also noted these were some of the fastest-growing areas within the Fanatics commerce business.

At the start of the year, the organization confirmed its acquisition of trading card company Topps in a deal reportedly worth $500 million. Fanatics as a whole was valued at $18 billion in August, following a $325 million funding round and a reorganization of its business with further new ventures into areas such as sports betting. Jay-Z and his Roc Nation multi-media company were among the investors last summer.