Michael Rubin is the CEO of Fanatics, one of the leading sports-related clothing brands in the United States. Mostly focused on the sale of products based on North American sports franchises with a production parallel to those of the teams themselves and their official sponsors. The fortune amassed with his company led him to be a minority owner of the Philadelphia 76ers from 2011 to 2022. Stage in which now admits having “violated all NBA rules.”
In a presentation at MIT this morning, the billionaire explained that he bet on Sixers games while he was a shareholder. He also said that NBA players such as LeBron James, Kevin Durant, Joel Embiid and James Harden were investors in his brand. All of this is obviously illegal in terms of the protocols established for owners. Rubin, born in Philly and a fan of his teams, defines himself as “the third most influential owner of an American sports franchise.” That is to say, he was not one of those who remained silent in meetings.
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This reopens debates about the ease with which rules and ethics are violated in the environment surrounding the NBA. This same season, Maverick Carter, LeBron James’ partner, admitted to gambling illegally. A reprehensible attitude for someone so close to privileged information. And he’s not even an owner with real power in the NBA itself.
The businessman was transparent and casual throughout the talk, going so far as to define his time in Philly as a failure. «We never won a championship. If you own a team and you don’t win one, you are failing every year. It’s your job. Win a championship.
(Cover photo by Mitchell Leff/Getty Images)
2024-03-01 18:12:28
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