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Fanatics founder Michael Rubin selling stake in 76ers

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PHILADELPHIA (AP) — Fanatics founder Michael Rubin is selling his stake in the company that owns the Philadelphia 76ers and New Jersey Devils. Rubin is worth an estimated $8 billion, according to Forbes. He wrote on social media posts he was shifting from part-owner of the teams run by Harris Blitzer Sports & Entertainment and back to life-long fan. Rubin was part of the ownership group when it purchased the 76ers in 2011 for $290 million. The team was valued at $2.45 billion by Forbes last year. Rubin owns a 10% share.

Article Topic Follows: ap-national-sports

Associated Press

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