Michael Rubin Steps Down as Sixers Part-Owner in a Recent Social Media Post
Back in 2011, self-made billionaire Micheal Rubin was part of the ownership group that acquired the Sixers. Growing up in the greater Philly region, Michael grew up a Sixers fan and started his first business at the age of 12. Since then Michael has been apart of several ventures but most recently his business, Fanatics has been taking off.
“When I was part of the ownership group that acquired the Sixers in 2011, Fanatics was just getting started with a small office in King of Prussia selling only licensed sports products online. Today. Fanatics has quickly transformed into a global digital sports platform across multiple businesses, with more than 10,000 employees in 57 countries and serving nearly 100 million sports product,” Rubin states.
The success of Fanatics is what is leading Rubin to step down as part-owner citing that it’s a conflict of interest. “As our Fanatics business has grown, so too have the obstacles. I have to navigate to ensure our new businesses don’t conflict with my responsibilities as part-owner of the Sixers. With the launch of our trading cards and collectibles business earlier this year-which will have individual contracts with thousands of athletes globally- and a soon-to-launch sports betting operation, these new businesses will directly conflict with the ownership of sports leagues,” Rubin adds.
Rubin ends by saying, ” The Philadelphia 76ers will ALWAYS be my team. You will continue to still find me in my usual spot at the Wells Fargo Center, screaming with all of you louder than I usually do and soaking in the best energy in any arena in the world.” See full post below.
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