After signing new partnerships with rival companies, Major League Baseball is ending its 70-year partnership with trading card company Topps.
The loss of the MLB partnership immediately disrupted a deal announced earlier this year that would make Topps a public company.
Mudrick Capital Acquisition Corporation II, a special-purpose acquisition company, said on Friday that after discovering that MLB and the League Players Union would not renew their respective agreements, its agreement to merge with Topps to list the company has been terminated by mutual agreement. Topps Co. will renew its contract at the end of 2025 and 2022 respectively.ESPN reported on Thursday that it had obtained a memorandum from the Major League Baseball Players Association stating that once the current license agreement expires at the end of 2019, an unnamed company created by sports goods company Fanatics will become a baseball card holder. Exclusive licensee. next year. According to ESPN reports, Fanatics’ transactions also include the National Basketball League and National Rugby League player unions.
Fanatics did not immediately respond to a request for comment.
The proposed transaction with Mudrick will make Topps a public company. Topps was acquired by former Disney CEO Michael Eisner through his company The Tornante Co. in 2007, and said in a prepared statement on Friday that it will now remain private.
Topps said that it is expected that by 2025, all of its currently licensed baseball products will be able to be produced.
The company was founded in 1938 and is known for its baseball cards. But Topps also produces products for Major League Soccer, UEFA Champions League, Bundesliga, National Hockey League, Formula One, Star Wars and WWE, and trash can children. Brands in its confectionery department include Ring Pop, Push Pop and Bazooka bubble gum.