The Short Answer
- August 2021: Fanatics announced exclusive deals with NBA, NFL, MLB, and player unions.
- January 2022: Fanatics acquired Topps, gaining MLB licenses immediately.
- October 2025: Fanatics began producing NBA-licensed cards under Topps.
- April 2026: Fanatics took over the NFL license, completing the trifecta.
August 2021 — The Announcement That Changed Everything
In August 2021, Fanatics announced it had secured long-term exclusive trading card licenses with the NBA, NBPA, MLB, MLBPA, NFL, and NFLPA. At the time, Panini held the NBA and NFL licenses, and Topps held the MLB license. The announcement was not immediately effective — the licenses would transfer as existing deals expired — but it signaled that the entire U.S. sports card landscape would be redrawn within five years.
January 2022 — Fanatics Acquires Topps
In January 2022, Fanatics closed its acquisition of Topps, giving it instant access to MLB and MLBPA licenses, plus decades of brand equity. Topps remained the operating brand for baseball cards, but Fanatics now controlled the product direction, pricing, and distribution. This was the first concrete step in the license consolidation.
October 2025 — NBA Cards Go Live
In October 2025, Fanatics (operating as Topps) released its first NBA-licensed cards, ending Panini's exclusive run. The products were met with mixed reactions: some collectors praised the design, while others worried about reduced competition. Panini continued producing NBA products under older designations while transitioning out, but Fanatics now controlled the future of NBA cards.
April 2026 — The NFL Takeover
April 2026 marked the final domino: Fanatics took over the NFL license. After this point, Fanatics held exclusive trading card rights to the three biggest U.S. sports leagues — NBA, NFL, and MLB — plus Premier League, F1, and WWE. Panini was completely locked out of licensed U.S. sports cards.
What This Means for Collectors
The practical impact is significant:
- Single manufacturer per sport — no more competing Panini vs Topps products for the same league.
- Price control — Fanatics sets retail and hobby box pricing without direct licensed competition.
- Product pipeline risk — if Fanatics decides to cut a product line, there is no licensed alternative.
- Vertical integration — Fanatics also owns breaking platforms, retail, and live commerce, creating a closed loop.
Frequently Asked Questions
When did Fanatics take over NBA cards?
When did Fanatics take over NFL cards?
Does Fanatics own Topps?
What licenses does Fanatics control after April 2026?
Sources & Further Reading
- Sportico — Judge Denies Attempts by Fanatics and Panini to Score Early Legal Win
- Fox Business — Federal judge dismisses lawsuit
- The Athletic — Lawsuit alleging Fanatics monopolizing sports card industry dismissed
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