Sports retailer and memorabilia company Fanatics is reportedly acquiring trading card company Topps, per multiple reports.
According to Jabari Young of CNBC, "industry sources put the deal at roughly $500 million. It will include only Topps' name and sports and entertainment division, not the company's candy and gift cards line, one source said."
That means Fanatics now hold the exclusive license with Major League Baseball for trading cards. Fanatics came to a deal in August with the MLB Players Association and MLB for exclusive rights in 2026. Topps currently holds those rights through 2025, though Fanatics' purchase of the company will get them into the MLB trading-card market immediately.