. MLB renewed its deal with Topps in 2018, and the existing deal ends in 2025. But with this agreement, Fanatics will obtain MLB's trading card rights immediately.
Fanatics will also obtain rights for Major League Soccer, UEFA, Bundesliga, and Formula 1. Those leagues also have active agreements with Topps. And last year, Fanatics secured trading card licenses for the National Football League Players Association and National Basketball Association. To land these agreements, Fanatics provided equity to leagues and player unions that is guaranteed to bring at least $1 billion in revenue over the duration of the partnerships., wants to expand the trading card business with more via direct-to-consumer commerce.
The company wants to capitalize on a sports trading card business that is projected to reach $98.7 billion by 2027, according to Verified Market Research. Acquiring Topps also aligns with Fanatics' plans to build out its NFT collectibles sector through its Candy Digital company, which has exclusive rights to produce MLB digital art work.Mudrick Capital Acquisition Corp. IITopps was a public company before being taken private following a $385 million deal in 2007. The company was founded in 1938 and became well known for its distribution of trading cards, including the 1952 Mickey Mantle card, one of which sold for $5.2 million in January 2021.
Source: News Formal (newsformal.com)
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