Fanatics CEO Michael Rubin is teaming with Jay-Z and some famous others to purchase vintage team jersey maker Mitchell & Ness for around $250 million.
Fanatics, the biggest maker of NBA, NFL and MLB jerseys, declined to comment to The Post on the price paid for Mitchell & Ness, but confirmed the deal.
“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,” he said in a statement. Jay-Z is among the investors in the purchase of the Mitchell & Ness sports-apparel brand, sources familiar told The Post.Juggernaut Capital Partners bought Philadelphia-based Mitchell & Ness in 2016 from Adidas for about $50 million, so is set to make a profit on the sale. Adidas bought the niche brand in 2007 for less than that.
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