Rick Ross Expresses Interest In The 76ers After Michael Rubin Announces He's Selling His Minority Stake: 'I'll Buy His 10%'
Rick Ross is still striving to achieve his goal of becoming a professional sports team owner.
Just a few weeks ago, Rozay expressed interest in acquiring a five percent stake in the Miami Dolphins.
Now, Ross has revealed he's buying a 10% stake in the Philadelphia 76ers in a comment on Instagram that read, "I'm buying his 10% lol."
Michael Rubin makes an announcement via Instagram
Ross' move followed Michael Rubin's announcement that he was selling his minority stake in the Sixers. Rubin, who is worth $8 billion according to Forbes, bought the 76ers in 2011 for $290 million with an ownership group. As CEO of Fanatics, Rubin plans to turn his attention to the world of sports betting to strengthen the brand.
“Today, Fanatics has rapidly transformed into a multi-company global digital sports platform, with more than 10,000 employees in 57 countries and nearly 100 million sports fans worldwide. As our Fanatics business has grown, so have the obstacles I must overcome to ensure our new business does not conflict with my responsibilities as a Sixers co-owner," Rubin wrote on Instagram.
He continued: “With the introduction this year of trading cards and collectibles – which will have individual contracts with thousands of athletes worldwide – and a sports betting operation soon to start, these new businesses will come directly into conflict with the ownership rules of sports leagues. Unfortunately, given these realities, I will be selling my stake in the Sixers and going from being a part owner to a lifelong fan.”
Check out the post below:
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