Slam Corp., a blank-check company established by Alex Rodriguez, will no longer merge with The Panini Group, a sports cards and collectibles company, according to Bloomberg.
The combined entity would have been valued at $3 billion or more.
Slam Corp. ended talks of a merger after Panini failed to renew two licensing deals with the National Basketball Association and National Football League.
- Fanatics inked a deal with the NBA and NBPA to replace Panini as its cardmaker in 2026.
- The online retailer also struck a 20-year trading card deal with the NFLPA that begins in 2026, when the league’s current deal with Panini expires.
Panini had been reportedly weighing a potential sale until Slam Corp. offered to merge in July. Now, the family-owned Italian brand known for its FIFA World Cup stickers will look elsewhere.
Despite the merger with Slam Corp. dissolving, not all hope is lost for Panini.
The company generated more than $1 billion in sales in 2018 and reached an agreement with the UFC in January to become the mixed martial arts promotion’s official trading card partner.
Panini also has licensing deals with FIFA, Disney, and Epic Games.