Michael Rubin Selling Ownership Stake in Philadelphia 76ers, New Jersey Devils

Michael Rubin Selling Ownership Stake in Philadelphia 76ers, New Jersey Devils
Image ©Kyle Terada-USA TODAY Sports
Frank Weber
Author:
Frank Weber
Updated: 
August 26th 2022 - 08:24 AM

Fanatics CEO and prominent minority owner of the Philadelphia 76ers and New Jersey Devils, Michael Rubin, is selling his stake in the Harris Blitzer Sports & Entertainment company, which is the majority group that owns both professional teams. Rubin’s decision to sell came earlier today, June 22nd, and is mostly due to a conflict of interest that is beginning to arise between his two endeavors. 

"When we first bought the Sixers, Fanatics was only in the merchandise business. Now we have the trading card business and the gambling business," he said. "By the end of the year, we'll have individual contracts with thousands of players, and I'll be taking bets on the Sixers." 

 "Fanatics just got to a size where it became no longer possible for me to run it and officially be part of the Sixers," Rubin said. "No one came to me and said, ‘Hey, Michael, you need to sell.’ It was clear based on these businesses [that] we have no choice but to sell."

Rubin was an integral part in helping the Sixers become the perennial contenders they are today, but unfortunately was not able to grab that Championship he ever so needed. If you think the Sixers have a chance in the 2022-23 season, be sure to bet on them through any of these Pennsylvania Online Casinos.


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