JAY-Z doesn’t stop making business moves. He’s joining forces with a major retailer to buy a longtime jersey brand.
Hov, Meek Mill and sports apparel company Fanatics are teaming up with LeBron James-business partner and entrepreneur Maverick Carter to purchase Mitchell & Ness, whose focus is the making of throwback jerseys and retro sports apparel.
Fanatics CEO Michael Rubin said in a statement.
“I’m incredibly excited for Fanatics to partner with this incredible group of innovative owners to build upon the company’s already strong business.” He continued… “Growing up as a kid in Philadelphia we looked at Mitchell & Ness as a badge of pride, and I truly believe this legendary brand has no limit.”
Investors in the company include Lil Baby, and the social media-famous D’Amelio family. The group is paying $250 million, according to reports. Fanatics will own 75% of the company, while other investors own the remaining portion.
Until the next time it drips…
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