Rap Mogul, Jay-Z, Meek Mill, and athletic and accessories brand, Fanatics, among others have acquired the iconic lifestyle brand, Mitchell & Ness, from former owner Juggernaut Capital Partners in part of a reported $250 million deal! The announcement was made early Friday morning (Feb. 18th)
With roots dating back to 1904, Mitchell & Ness is a go-to destination for vintage sports jerseys, licensed lifestyle products, street fashion staples, and trendy headwear. With deals with the NBA, NFL, MLB, MLS, and various NCAA schools, the company has secured major contracts.
“Fashion is cyclical, but classics are forever,” Jay-Z shared in a statement. “Mitchell & Ness is a true classic. I was an early adopter of this brand, as well as a part of a departure from athletic wear. I’m proud to play a small role in bringing it back.” Fanatics will reportedly own 75% of Mitchell & Ness, with Jay-Z and the other partners cut in on the remaining 25%.
According to an article in The NY Times, Jay-Z is already involved in Fanatics through his partnership on a forthcoming sports betting division. Fanatics CEO Michael Rubin knows Meek Mill well because he has worked with him on a prison reform initiative with Jay-Z.
Check out Jay-Z through the years below!