Sportswear brand Fanatics recently announced a list of new names that are joining the ownership group for the Mitchell & Ness brand. Mitchell & Ness is a throwback sports goods company that is currently valued at $350 Million. In February this year Fanatics made an announcement that they had bought 75% of M&N and were bringing on board Jay–Z and other celebrities to co-own the brand on the remaining 25%.
Last month they announced a new list of names that are joining the 25% ownership and the list includes LeBron James, Kevin Hart, Kevin Durant, Chris Paul, CJ McCollum, Devin Booker, James Harden, Joel Embiid, Odell Beckham Jr., Rich Paul, Rich Kleiman, Scooter Braun, Steve Stout, and DeSean Jackson. Some of the other celebrities who have already invested in the ownership share are Meek Mill and other NBA and NFL players.
With this star studded list of owners, Fanatics is hoping that they will make the brand more culturally relevant through potential collaborations and driving fan engagement. Michael Rubin, owner of Fanatics confirmed this in a press statement by saying “We’re really excited to get people that are making culture to be owners and band together with us on this.”
In January this year Fanatics purchased trading card company Topps, and they are now valued at $27 Billion. Partnering with some of the biggest names in sports and entertainment, Fanatics is strategically setting themselves up for major success across competitive spaces, making them a key player in the world of collectibles.