How the NBA accidentally enabled former 76ers owner to land and fund LeBron James’ life in Philly
LeBron James joining the Philadelphia 76ers is one of the biggest free agency successes in franchise history, but the NBA played a huge part in it. The 76ers managed to lure LeBron James to the franchise this summer after he left the Los Angeles Lakers at the end of his eight-year stint with the team.
In 2022, Michael Rubin sold a 10% minority stake in Harris Blitzer Sports and Entertainment (HBSE) to concentrate on his sports apparel brand, Fanatics. This decision came after Fanatics became the official merchandise partner of the NBA, raising concerns over Rubin's ties to the 76ers. Rubin, however, stated that he learned a lot from his NBA experience and that it was time to move on.
Rubin expressed concerns about not being able to help the 76ers in a non-ownership capacity. However, league officials reassured him that he would be able to contribute more after he left the constraints of the NBA's collective bargaining agreement and anti-tampering laws.
During this time, James invested in Fanatics in 2022, purchasing a minority stake in Mitchell & Ness, a subsidiary brand that focused on creating throwback sports apparel. This relationship strengthened when James signed a trading card deal with Fanatics in January 2024.
Despite playing for the 76ers, James opted to reside in New York City and commute to practice via a private helicopter branded with Fanatics' logo. This arrangement was reportedly funded by Fanatics, as confirmed by a spokesperson for James. The 76ers likely benefited from this arrangement, as they managed to secure LeBron James' services.
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