Fanatics CEO Michael Rubin will no longer be able to put “Sixers owner” on his business card. The clothing mogul is selling his 10% stake in Harris-Blitzer sports, the owner of the Sixers and also the New Jersey Devils.
While Rubin is the second prominent figure to leave the organization, the reason why he is selling his stake is understandable. Rubin’s “Fanatics” brand is looking to move into other business ventures which includes sports gambling. The NBA prohibits this sort of thing and one example of an owner having to sell his share was Shaq, who sold his stake in the Sacramento Kings after getting into business with Wynn
Rubin has been in the spotlight as part owner, and at times more visible than Joshua Harris himself. It actually comes as a surprise to some to learn he only owned 10% of the team. But his positive work in criminal justice reform made him a popular man in celebrity circles. He could often be seen courtside with rapper Meek Mill. He was also extremely friendly with Joel Embiid, and James Harden.