PHILADELPHIA — Michael Rubin is no longer a 76ers limited partner.
Rubin is selling his stakes in Harris Blitzer Sports & Entertainment, which oversees the Sixers and the New Jersey Devils, according to an HBSE spokesperson. The billionaire has grown his business at the Fanatics to the point where there are conflicts that make it difficult for him to remain in team ownership with the different collective-bargaining agreements in the NBA and NHL.
Rubin is the founder and chief executive of Fanatics, which is valued at $27 billion. He recently entered into the trading card and collectibles business. Other areas that pose a conflict with the leagues involve Fanatics having direct marketing partnerships with professional athletics. Those partnerships will continue as with the addition of the trading cards and collectibles business. The company also plans to start a gaming and betting division. None of these conflicts were present when Rubin bought into a minority share of the Sixers in October 2011 while Fanatics was still in its early stage.
