Mitchell & Ness, the company known for its replica apparel, has just added an influx of new and well-known investors. LeBron James, Kevin Durant, James Harden, Joel Embiid, Chris Paul, Devin Booker, Rich Paul, Odell Beckham Jr., and Kevin Hart are among the people to join the company’s ownership group, as have others from the entertainment and sports industries.
This comes months after Fanatics and another group of famous investors bought Mitchell & Ness in February. That group includes Jay-Z and Lil’ Baby, among others. Fanatics bought 75 percent ownership of the company That’s the deal, which valued Mitchell & Ness at $250 million, while the investor group took the other 25 percent.
Some of these new investors were led by some. NBA’s biggest stars, will help the company with its future collaborations, capsule collections, and other creative endeavors. And earlier this year, Mitchell & Ness acquired the rights to all 32 NHL teams so it can design products for that league.
Mitchell & Ness is part of what has become an ever-larger portfolio owned and run by Fanatics and its CEO Michael Rubin. Topps was bought by FanaticsThis was earlier in the year.
The company has seen tremendous growth. Rubin sold his 10% stakeHarris Blitzer Sports Entertainment, the holding firm that owns the Philadelphia 76ersNew Jersey Devils in June
(Photo by Jayne Kaminoncea / USA Today
