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Fanatics, Meek Mill, Jay-Z part of group buying vintage sports jersey maker Mitchell & Ness for $250 million

Sixers co-owner Michael Rubin, who owns Fanatics, will reportedly own 75% of the company while the other investors will combine to own the rest.

In this Jan. 23, 2019, file photo, musician Meek Mill, right, speaks about his incarceration along with Philadelphia 76ers co-owner Michael Rubin at the launch of REFORM Alliance in New York.
In this Jan. 23, 2019, file photo, musician Meek Mill, right, speaks about his incarceration along with Philadelphia 76ers co-owner Michael Rubin at the launch of REFORM Alliance in New York.Read moreKathy Willens / AP

CHICAGO — Michael Rubin’s assets are growing.

The 76ers co-owner is part of a group that will purchase vintage team jersey maker Mitchell & Ness.

Rubin, the founder and chief executive of Fanatics, will team up with rappers Meek Mill, Jay-Z and Lil Baby along with sports-marketing businessman Maverick Carter and Tik Tok’s D’Amelio family to purchase Mitchell and Ness. Multiple reports have the purchase for $250 million.

Fanatics will reportedly own 75% of the company while the other investors will combine to own the rest.

“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,” Rubin said in a statement.

Established in 1904, Mitchell and Ness is a Philly-based American sports-related clothing company. It began as a sports equipment manufacturer. After making baseball and football uniforms, the business focused on recreating vintage jerseys in 1983. Mitchell & Ness is the oldest sporting company in Philadelphia.

Fanatics was valued at around $18 billion last year. It clinched a deal to buy the Topps trading card business in January.