Why Topps Lost 70-Year-Old MLB Trading Card Licensing Deal to Fanatics

For seven decades, Topps trading cards were the top choice for Major League Baseball — until the MLB decided on a new partner, Fanatics. Ed Schauder, a partner at Phillips Nizer LLP and head of its sports law practice, said it was simply "dollars and cents" that led to the surprise breakup of the partnership. "At the end of the day, Fanatics is a $14 billion company," Schauder told Cheddar. "They're acquiring licenses from all over the world." The embattled card company has the license through 2025, but it already lost out on a SPAC merger deal that would have valued Topps at $1.3 billion.
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