• Loading stock data...
Saturday, July 19, 2025

New Suit Alleges Fanatics ‘Monopoly’ Increased Trading Card Prices 

The suit borrows heavily from an earlier one filed by rival trading card company Panini. Fanatics blasted it as “baseless” and “fundamentally flawed.”

A set of trading cards
Journal Sentinel

A new lawsuit claims Fanatics and its partners in U.S. pro sports illegally monopolized the trading card market, increasing prices for consumers.

Antitrust lawsuits are old hat in sports, and Fanatics is already embroiled in very similar litigation brought by trading card competitor Panini. What makes the latest iteration notable is the breadth of the defendants. The list includes Michael Rubin’s sprawling company as well as the NBA, NHL, and NFL; unions for players in all three leagues; and the group licensing venture OneTeam. 

The suit claims the defendants conspired to drive competitors out of business and raise prices. 

Many, if not most, of the allegations in the 47-page complaint are also found in the Panini lawsuit, which a federal judge recently gave the green light to proceed. Some law firms will piggyback on existing suits and file similar cases after a motion to dismiss fails, which recently happened in the Panini suit.

“This baseless complaint is fundamentally flawed in numerous respects and we look forward to presenting to the court how we continue to elevate and enhance the collecting experience by relentlessly focusing on collectors,” Fanatics said in a statement to Front Office Sports. 

The man who filed the new lawsuit is an Austin resident named Robert Scaturo. Lawyer John Radice, who is representing Scaturo, emailed, “I don’t have anything to add on the record other than what’s in the complaint.”

The core of both lawsuits: In 2021, Fanatics began acquiring trading card licenses from the leagues and union by signing 10- to 20-year contracts, offering equity as an inducement to do the deal.

By 2026, the latest lawsuit alleges, Fanatics will control 100% of the trading card market.

“​​The collective equity stake of the Leagues and players associations (plus NHL and MLS) is worth approximately $5 to $10 billion,” the complaint alleges. “In this way, Fanatics and each of the leagues and each of their player associations agreed to split the monopoly profits caused by the anticompetitive agreements.”

According to the lawsuit, prices for MLB cards from Topps—which Fanatics acquired in 2022—have risen 50% since 2021, while Panini cards remained flat or declined. A chart in the complaint, however, shows Panini prices declining before the Topps acquisition and rising afterward. Fanatics’s rights for NBA cards begin in September.

The new suit claims Fanatics bought the printer company that Panini used for 90% of its cards, and then slowed down deliveries to the competitor. Fanatics is also charged with using its market power to require local card shops to accept minimum price requirements or be cut off from supply, withholding supply to shops that sell trading cards on business-to-business websites, and forcing case breakers onto Fanatics’ new case-breaking platform. (Case-breakers are influencers who stream opening packages of cards.)

“Fanatics has successfully foreclosed one hundred percent of the market for Major U.S. Professional Sports Leagues trading cards for the next decade at least,” the complaint charges. “Rivals have been sidelined due to these exclusive agreements and consumers will suffer.”

The Panini case focuses on alleged moves by Fanatics to oust its Texas-based rival from the marketplace; the new suit, a consumer class-action case, is brought on behalf of all consumers who bought trading cards from one of the defendants starting Jan. 1, 2022, and until the alleged conduct ceases. 

As is typical at this early stage of litigation, the complaint does not include a damages figure, an amount that emerges far closer to trial. The complaint also asks for injunctive relief, meaning the court orders Fanatics to cease its allegedly monopolistic practices.

The complaint, which borrows heavily from the Panini complaint—down to including charges that were dismissed last week—also alleges:

  • Fanatics raided Panini’s staff “using threats and false statements to poach dozens of Panini’s employees. … Fanatics threatened to blacklist Panini employees from ever working in the industry again when Fanatics’ exclusive long-term licenses took effect unless they immediately quit Panini and joined Fanatics.”
  • Fanatics used these raids as an inducement to get the NFL Players Association in 2023 to end its deal with Panini three years early. An arbitrator would later order the union to pay Panini $7 million in damages.
  • “Fanatics strong-armed athletes to refuse agreements with Panini, using a similar combination of payoffs and threats. For example, Fanatics threatened that players would never get an autograph deal when Fanatics’ long-term contracts took effect in the future unless they immediately signed with Fanatics.”
  • Fanatics used its “monopoly” power to cut off sales of worn jerseys to Panini. 

Trading cards require a license from both the league—for team and league intellectual property—and the players, for NIL (name, image, and likeness) rights. With trading cards, the players’ rights are ceded to the players’ unions for group licensing. Unions for players in the NFL and MLB have used OneTeam in recent years to sell those rights.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Jul 13, 2025; Atlanta, GA, USA; MLB Commissioner Rob Manfred announces the pick for the Athletics pick during the MLB Draft at The Coca-Cola Roxy.

Manfred Says MLB Had Wrong Approach to Creators Like Jomboy

“You gotta go where people are going,” the commissioner said.
(NCL_OSU_11_SUGAR_LAURON 04JAN11) Ohio State Buckeyes quarterback Terrelle Pryor (2) slips around the Arkansas Razorbacks defense during first half of the Sugar Bowl at the Louisiana Superdome in New Orleans, January 4, 2011.

Terrelle Pryor’s Case for NIL Backpay Dismissed in Court

Pryor played seven years in the NFL after leaving OSU amid a scandal.
Jun 9, 2025; Cleveland, Ohio, USA; Cleveland Guardians starting pitcher Luis Ortiz (45) reacts after giving up a home run during the fourth inning against the Cincinnati Reds at Progressive Field.

MLB Pitcher’s Paid Leave Extended Through August As Betting Probe Continues

Leagues have been dealing with a host of sports betting issues.

Featured Today

Ryan Field Construction
exclusive

First Look Inside Northwestern’s $862 Million New Ryan Field

Five big things FOS learned on our exclusive stadium tour.
Jul 21, 2024; Ayrshire, SCT; Xander Schauffele celebrates with Claret Jug after winning the Open Championship golf tournament at Royal Troon.
July 17, 2025

The Boozy History and Traditions of The Open’s Claret Jug

The Open awards the world’s most famous wine decanter.
2025 PDC World Darts Championship Final - Luke Littler vs Michael Van Gerwen
July 16, 2025

A Teen Darts Prodigy Is Becoming Bigger Than the Game Itself

Luke ‘The Nuke’ Littler is cashing in on his devastatingly accurate shot.
May 31, 2025; Philadelphia, PA, USA; Sydney McLaughin-Levrone (USA) reacts before the women's 100m hurdles during the Grand Slam Track Philadelphia at Franklin Field
exclusive
July 13, 2025

Track’s New Money Is Running Into Old Problems

The sport’s big-money era has hit some speed bumps in 2025.
A Lululemon store at Freehold Raceway Mall in Freehold Township, New Jersey on Nov. 30, 2023

Sportswear Stocks Rise as Trump Touts Vietnam Trade Deal

Tariffs on Vietnam imports will be 20%, down from a prior threat of 46%.
Jun 20, 2024; Eugene, OR, USA; Detailed view of Nike Alphafly 3 racing flat at the Nike by Eugene store.
June 25, 2025

Investors Hunt for Signs Nike Has Regained Its Footing

Nike’s fundamentals are “still challenged.”
From vintage to unique collaborations, various Nike and Jordan shoes are displayed on a wall at Saved Soles inside West Ridge Mall.
June 26, 2025

Nike Stumbles Less Than Expected, Giving Wall Street Hope

The sports apparel and footwear giant beats Wall Street expectations.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Jun 15, 2025; Oakmont, Pennsylvania, USA; JJ Spaun putts on the 18th green to win during the final round of the U.S. Open golf tournament.
June 16, 2025

‘Pandemonium’: Putter Maker Sees Sales Surge After JJ Spaun’s U.S. Open Win

The company behind Spaun’s putter is already in talks with his people.
June 13, 2025

U.S. Open Merch Pops Thanks to Oakmont’s Squirrel, Viral TikToks

There are more than 400,000 pieces of merchandise available at Oakmont.
Tom's Watch Bar
June 12, 2025

How the Pacers and Caitlin Clark Boosted One Bar’s Bottom Line

Tom’s Watch Bar hosted John Haliburton for at least five games.
June 12, 2025

U.S. Open Cashing In on Signature Cocktail Trend With Lemon Wedge

Last year, the whiskey cocktail was served more than 50,000 times.