Michael Rubin selling his 10% ownership stake in Philadelphia 76ers
Michael Rubin has long been a positive influence in the city of Philadelphia while being a minority governor of the 76ers. He was a big help during the pandemic as he helped raise money to feed families who were struggling during that time and he has been helpful in making changes to the justice system.
With that being said, Rubin is the CEO of Fanatics and due to the company’s venture into sports betting and individual player partnerships as that can be a future conflict for the Sixers. Therefore, he is looking to sell his 10% ownership of the team so he can move forward with the business side of things at Fanatics.
Rubin, who sources say holds a 10 percent equity 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.
— Adrian Wojnarowski (@wojespn) June 22, 2022
Prior to the big James Harden deal, Rubin did receive some criticism due to his close relationship with Harden. He can now have partnerships with players without having to deal with the NBA side of things getting in the way.
This post originally appeared on Sixers Wire! Follow us on Facebook!
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