Online sports retailer Fanatics and a group of investors led by Jay-Z are acquiring Mitchell & Ness in a deal worth $250 million. According to Yahoo! Sports, Fanatics will hold a 75 percent ownership stake in the throwback jersey brand, with the remaining 25 percent being held by Jay-Z, fellow rappers Meek Mill and Lil Baby, LeBron James’ business partner Maverick Carter, and the TikTok famous D'Amelio family.
Jay-Z’s part in the acquisition marks a full-circle moment, as he was one of several rappers who helped usher in the popularity of (oversized) throwback jerseys in the early 2000s. “Fashion is cyclical but classics are forever. Mitchell & Ness is a true classic,” Jay-Z said in a press release. “I was an early adopter of this brand, as well as 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.”
