Fanatics has acquired Topps trading cards and collectibles in a deal worth approximately $500M. The iconic trading card business, founded in 1938, has been a flagship of the collectibles world for decades and has produced some of the most iconic sports cards of all time.
The deal, which was announced on Tuesday, will include all physical products as well as the digital arm of the Topps universe as well. In a statement released after news of the acquisition broke, Fanatics CEO Michael Rubin said “With trading cards and collectibles being a significant pillar of our long-term plans to become the leading digital sports platform, we are excited to add a leading trading cards company to build out our business…Their iconic brand, commitment to product excellence and passionate employees worldwide will allow us to immediately serve our league and players’ association partners and our fans.”
While some may be surprised by the move, industry insiders have expected a deal for some time now. In August, Fanatics finalized an agreement with Major League Baseball to secure exclusive rights to manufacture cards, ending a 60 year run for Topps in the baseball world. Originally slated to kick in during the 2026 season, the rights that Topps currently holds to produce MLB products will now transfer to Fanatics, meaning they can begin production on their collectibles division immediately.
With the addition of Topps to their portfolio, Fanatics now has deals in place to produce trading cards with every major sports league except the NHL. The National Hockey League elected to extend their deal with Upper Deck in October. Perhaps flying under the radar of the major sports league licensing deals is the fact that Topps also held the rights to Formula 1, MLS, UEFA, and Bundesliga as well, adding a few burgeoning “non-traditional” sports card venues to the Fanatics organization.
Fanatics reached an $18B valuation in 2021 with its sports card division making up a significant portion of that market cap. The addition of Topps’ existing infrastructure and distribution model will accelerate Fanatics entry into the world of sports collectibles in a big way. The iconic trading card brand already has existing deals in place with retail giants such as Target and Walmart. This, coupled with Fanatics plans to enter the NFT sports marketplace, sets the Jacksonville based merchandising giant up to become a massive player in the sports card world immediately.
-Kyle Skinner
Twitter: @JKyleSkinner