Michael Rubin says his business ties to NBA players helped explain why he had to give up his ownership stake in the Philadelphia 76ers.
Fanatics founder Michael Rubin is opening up about the league ownership rules that complicated his position as a Sixers owner.
In a statement circulating on social media, Rubin said Fanatics had investments from several prominent NBA players, including LeBron James, Joel Embiid, James Harden, Chris Paul and Kevin Durant.
“I think we were violating every rule the NBA had,” Rubin said, explaining that league rules governing relationships between team owners, players and outside businesses created a conflict with his role at Fanatics.
Rubin ultimately divested his stake in the Philadelphia 76ers, allowing him to focus on Fanatics without the same ownership conflict.
The situation highlights the complicated connections between professional sports, athlete investments and the businesses operating around major leagues.
Today’s biggest athletes aren’t just endorsers. Many are investors, entrepreneurs and business partners, creating opportunities that can intersect with league ownership policies.
The big question: As athletes expand their business portfolios, how should professional leagues handle investments that connect players, team owners and major sports companies?
What do you think?
Should NBA players be allowed to invest in businesses connected to team owners, or should leagues maintain strict separation between ownership and outside investments?
