Michael Rubin Owner of Fanatics (Facebook)
Michael Rubin, the founder and CEO of Fanatics, a global digital sports platform that has revolutionized the way fans interact with their favorite teams and athletes, is rumored to be looking to sell off $1 billion in company stock, the New York Post reported. The rumors come as the Fanatics’ Fanatics Fest NYC is set to begin next month.
According to the New York Post, Michael Rubin, who has an estimated net worth of about $11 billion, is concerned because Fanatics’ growth has stalled.
However, a spokesperson told the New York Post, “Michael is not looking to sell any shares in the company. It’s completely wrong.”
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Fanatics Fest is a massive, immersive sports festival created by Fanatics, the leading digital sports platform. It’s designed to be a dream come true for sports fans of all kinds. The first-ever Fanatics Fest took place in New York City in August 2024. It was a huge success, attracting thousands of fans from all over the country.
Taking place at the Javits Center in New York City from August 16-18, Fanatics Fest NYC will feature a one-of-a-kind recreation of the legendary The 40/40 Club that captures the essence of the Club’s signature blend of sports, luxury, and entertainment. Guests can expect an atmosphere that pays homage to The 40/40 Club’s rich legacy, complete with signature details like framed jerseys from the club archive, grand chandeliers, stadium seating, small bites inspired by its original menu, premium beverage offerings, and a unique ambiance that made the original a favorite among the A-list crowd.
“Let’s keep it real, you gotta leverage the relationships out of it,” said Michael Rubin of the upcoming event. “There’s not another company that could pull this off because they don’t have the relationships with athletes in different businesses and leagues.”
Founded by Michael Rubin in Jacksonville, Florida in 2011, Fanatics markets licensed sports merchandise to over 180 countries around the world, runs stores in over 12 languages and supports multi-lingual call centers incorporating 11 languages. Rubin is also the co-owner of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Internationally, Fanatics also delivers specific global leadership in event, city center and in-venue retail; providing expertise at leading soccer, rugby and golfing venues. Fulfillment and service infrastructure has also expanded internationally, leveraging the historic expertise of Kitbag in international markets and integrating with the marketing and technology solutions traditionally used by Fanatics across its sites and partners in the U.S.
Michael Rubin built multiple successful e-commerce companies, including GSI Commerce, which he sold to eBay. He is also the co-chair of REFORM Alliance, focused on criminal justice reform.
Rubin’s entrepreneurial journey began with the founding of GSI Commerce, an e-commerce platform that he eventually sold to eBay for a staggering $2.4 billion. With the proceeds, he acquired Fanatics, which has since grown into a behemoth in the sports merchandise industry. Under Michael Rubin’s leadership, Fanatics has expanded far beyond traditional sports apparel.
