Fanatics purchasing Mitchell and Ness for $250 million, continuing their monopoly on the sports retail industry
The New York Post reported that sports retail giant Fanatics is purchasing Mitchell and Ness for $250 million. Mitchell and Ness are known for their high-quality vintage jerseys and are a Philadelphia institution.
The acquisition of Mitchell and Ness very well could be the final domino in the downfall of jersey culture.
Mitchell and Ness was founded in 1904 and was actually the former uniform supplier for the Philadelphia Eagles before moving exclusively into retail. This historic and prideful company is now owned by 76ers minority owner Michael Rubin, Jay-Z, the D’Amelio family, and Maverick Carter.
On the surface, this doesn’t seem crazy until you realize what Fanatics have been up to recently. The company recently purchased the exclusive rights for sports cards, is in the gambling business, and now owns almost all of the jersey production industry.
Every team site you visit, or league shop, is owned by fanatics. They push their horribly produced replica jerseys for a lucrative price, making it almost impossible to find fan gear sold at a place they don’t own.
Even if you think sell a good product, you can’t think it’s right for one company to control almost all fan gear in America, the entire sports card industry, and now have their own gambling company. It’s not suitable for parity in the sports business world.
Mitchell and Ness are known for their high prices. They create incredible goods and charge a high fee for on-field type authentic uniforms. However, they also have cheaper versions that are still well made that rival the price of Nike’s Swingman jerseys.
With Fanatics now the owner of all vintage uniforms, you can expect they will jack the price on everything, just like they did with everything else. It’s a dark day for jersey collectors, but luckily we still have DHGate to purchase from until Fanatics buys them too.
Mandatory Credit: Mitchell and Ness