February 8 – FIFA and Fanatics have signed a long-term exclusive license allowing Topps, owned by Fanatics, to produce trading cards, stickers, and trading card games for the World Cup and other FIFA events starting in 2031.
Financial terms were not disclosed, but a source familiar with the deal said its length “spans multiple [World Cup] cycles.”
“Across the sports landscape, we see that Fanatics is driving massive innovation in collectibles that provides fans with a new, meaningful way to engage with their favorite teams and with their favourite players,” FIFA president Gianni Infantino said.
“This provides another important commercial revenue stream that we channel back, as always, into the game, into football.”
The agreement ends Panini’s decades-long FIFA World Cup sticker license. Apart from the 1994 tournament, Panini has produced World Cup stickers and cards starting in 1970. Topps had already replaced Panini as UEFA’s exclusive trading card and sticker licensee through 2028.
“It’s a pretty meaningful addition to us,” Fanatics founder and CEO Michael Rubin told ESPN. “It represents the single biggest thing globally we could do to grow our business.” Rubin pointed to UEFA’s collectibles growth – from a $15 million business to over $200 million – as the template. Fanatics’ collectibles revenue is expected to approach $5 billion in 2026.
Fanatics has also locked in exclusive licenses for the Brazil, England, Germany, Italy, and Argentina national teams, with US rights also signed.
The deal deepens an increasingly bitter rivalry. Panini and Fanatics remain locked in litigation, with Panini accusing Fanatics of monopolisation after losing NBA, NFL, Premier League, MLB, and Bundesliga licenses. Fanatics has countersued, alleging deceitful trade practices.
Panini, valued at a reported $5.8 billion, has appointed CitiGroup to explore strategic corporate and financial options.
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