Fanatics CEO Michael Rubin, a prominent minority owner of the Philadelphia 76ers, is selling his stake in the Harris Blitzer Sports & Entertainment company that owns the Sixers and New Jersey Devils, he announced Wednesday.
Rubin, who sources say holds a 10% equity stake in HBSE, is divesting his 11-year stake in the NBA and NHL franchises because of looming conflicts in the expansion of his Fanatics business into sports betting and individual player partnerships.
Via espn.com