Michael Rubin, Jay Z, Meek Mill, and others purchase Mitchell & Ness
Mitchell & Ness is one of the biggest sports apparel companies, in the world. They feature various styles of throwback sports gear, for leagues such as NBA, NFL, MLB, and more. Now, they are under new ownership, which includes some of the biggest names in sports and in the music industry.
According to Complex, Michael Rubin’s Fanatics sports apparel company, Jay Z, Meek Mill, Lil Baby, Maverick Carter, and the D’Amelio family, have purchased Mitchell & Ness, for $250 million. The deal was made with the Juggernaut Capital Partners.
75% of the ownership is under Michael Rubin and Fanatics, and the 25% is towards the other owners. Goals for this move include incorporating M&N’s business model, with Fanatics’, product portfolio expansion and a push for more global recognition. M&N is also said to still be operating as a separate entity, in the larger Fanatics Commerce framework. In this situation, M&N CEO Kevin Wulff will report to Joe Bozich, who is the President of Fanatics Brands.
“I’m incredibly excited for Fanatics to partner with this incredible group of innovative owners to build upon the company’s already strong business that has kept the brand culturally relevant for more than 100 years,” said Michael Rubin, in a statement. “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.”
Jay Z also went on to release a statement, as he praised M&N as a “true classic,” and is proud of being able to showcase this brand to the next generation of fans.
“Fashion is cyclical, but classics are forever. Mitchell & Ness is a true classic. I was an early adopter of this brand, as well as a part of a departure from athletic wear. I’m proud to play a small role in bringing it back, and in some cases, introducing the authenticity and quality of the Mitchell & Ness brand to a new generation.”
Michael Rubin, Jay Z, Meek Mill, and others purchase Mitchell & Ness
