Digital sports firm Fanatics has hired former Dick Clark Productions chief Mike Mahan in the newly created role of CEO of its trading cards and collectibles business.The collectibles division includes brands like Topps, Candy Digital and zerocool.
Fanatics acquired Topps from former Disney CEO Michael Eisner’s investment firm Tornante Company last January in a deal worth a reported $500 million.
The transaction followed the news that Topps lost its Major League Baseball trading card deal after more than 70 years. (MLB rights are now back under the Fanatics roof on an exclusive basis.)Fanatics’ card and collectibles unit is projecting annual revenue north of $1 billion, with expectations for growth once new rights deals take effect with the NBA, NFL, WWE and other prominent partners.
With “name, image and likeness” rules now in play for college athletes, Fanatics made news recently by announcing a line of college sports trading cards.Mahan, a former investment banker at Bear Stearns and executive at private equity firm CDP Capital Entertainment, has accrued experience in digital media, content creation, influencer marketing, entertainment and finance.
Read more on deadline.com
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