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Fanatics vs Topps: The Seismic Shift for Sports Card Collectors

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Fanatics secured long-term exclusive licensing for MLB, NFL, and NBA, then acquired Topps’ sports and entertainment division for $500 million in January 2022. This granted Fanatics exclusive MLB and MLBPA card rights, accelerating control of major sports card segments by 2026.

Just a few years ago, the idea of a single entity controlling the licensing for all major sports seemed unlikely, viewed either negatively or positively. This situation is now a reality. This article examines what has changed, what has remained consistent, and how collectors can adapt to this new environment.

The Fanatics Takeover: A New Era for Sports Cards

Remember the feeling back in August 2021? The hobby was buzzing, and then the news hit like a Giancarlo Stanton grand slam: Fanatics had secured long-term exclusive licensing agreements with MLB and the MLB Players Association. For many of us, this felt like an earthquake. Topps, a brand synonymous with baseball for over 70 years, was suddenly on the sidelines. It wasn’t just baseball; swiftly, similar exclusive deals followed with the NFL, NFL Players Association, NBA, and NBPA.

But the real shockwave came in January 2022 when Fanatics didn’t just sideline Topps - they acquired Topps’ sports and entertainment division for a cool $500 million. This wasn’t just a hostile takeover; it was a strategic absorption. This move instantly granted Fanatics the exclusive MLB and MLBPA card rights, accelerating their timeline from the original 2025 start date. By 2026, Fanatics will hold the keys to NBA and NFL cards as well, completing a near-total consolidation of the most valuable segments of our market. Our old friend Panini, once a fierce competitor, will likely see its market share shrink significantly, although they may find new focus in sports like soccer where they retain licenses.

This isn’t just about who prints the cards; it’s about a fundamental restructuring of the entire ecosystem.

Fanatics’ Consolidation: How Topps & The Hobby Changed

Fanatics isn’t just buying licenses; they’re building an empire, a direct-to-consumer (DTC) ecosystem that aims to encompass everything from card production and sales to aftermarket channels. We’re talking live streams, auctions, and their own marketplace, intending to bypass traditional distributors and local card shops that have been the lifeblood of our hobby for generations.

Their strategy is heavily digital, leaning into technology, social media, and interactive live video to redefine how we collect. As a collector who’s seen the hobby evolve from local swap meets to online forums, this digital-first approach feels both exciting and a little daunting. They’ve even integrated Card Ladder, a leading card-pricing service, into Fanatics Collect in September 2024 to help us track market values. And if you needed more proof of their reach, LeBron James himself partnered with Fanatics in an exclusive multi-year trading card deal in January 2024. This isn’t just about selling cards; it’s about owning the entire experience.

Product Evolution: Topps Under Fanatics’ Ownership

Topps products released under Fanatics maintain a consistent release schedule, often featuring new elements and exclusive content.

For baseball, we’ve seen 2025 Topps Series 1 Baseball roll out with “Fanatics Blasters” that offered redemption cards for autographed memorabilia - a clear integration of the Fanatics brand. 2025 Topps Series 2 Baseball followed, featuring 350 base cards and new inserts like “Bleacher Reachers” and “Night Terrors.” There were even exclusive Fanatics Fest boxes available at Fanatics Fest NYC 2025, signaling a new direct-event distribution model.

The “Topps Now” platform has been heavily utilized, capturing those flash-in-the-pan moments like significant plays, drafts, and events. Ordering these via the Fanatics app often gives better “Fancash” rewards (more on that in a bit) and a lower free shipping threshold, which is a nice perk if you’re chasing those quick hits.

Basketball is also making its triumphant return to Topps. We saw 2024-25 Topps Chrome Basketball released in June 2025, notably featuring Victor Wembanyama rookie autographs before the full NBA license was even active for Fanatics. This was a smart move to build hype. The real milestone is the scheduled October 2025 release of 2025-26 Topps Basketball, marking Topps’ official comeback as the exclusive NBA and NBPA trading card licensee. For collectors who grew up on Topps Basketball, this is a huge moment of nostalgia mixed with new beginnings.

Topps has also been expanding, pushing into cross-sport content (e.g., Jayson Tatum or Wembanyama appearing in baseball products via “First Pitch” inserts) and collegiate licensing with their “Bowman University” collection. And it’s not just U.S. sports; Topps continues to hold licenses for MLS, Formula 1, UEFA, UFC, Disney, Marvel, and Star Wars, with products like Topps Premier League 2025/26 cards featuring more autographs than ever. The sheer volume is undeniable.

Pricing & Value: Navigating “Junk Wax 2.0” Concerns

This is where the rubber meets the road for many of us. Since Fanatics’ increased involvement, several pricing trends have raised concerns among collectors:

• Increased Product Prices and Print Runs: It’s a double-edged sword. Sealed product prices seem to have shot up, and while exact print runs are rarely disclosed, the sheer volume of product available suggests they’re higher than ever. This leads many to fear a “junk wax 2.0” era, where the market is flooded with cards that hold little long-term value.

• Diminished “Hits” Value: We all love the thrill of pulling a big hit. But lately, what were once considered valuable pulls - numbered parallels, autographs - often feel less exciting and yield a lower return on investment. It’s tough to justify the cost of a box when the “big pull” barely covers a fraction of it.

• Market Manipulation Concerns: There’s a persistent worry among collectors that the market is being manipulated by those focused solely on profit, especially with the quick sell-outs and allocation to breakers. This can create artificial scarcity and inflate resale prices for even common products like blaster boxes.

• Persistent High Demand: Despite these concerns, new product releases continue to sell out almost instantaneously. There’s a significant portion often allocated to breakers and VIP customers, making it a frustrating hunt for the individual collector trying to grab a box or two.

• Strength of Iconic and Graded Cards: While modern card values can be volatile, this era has only reinforced the value of high-grade, iconic cards. Legendary players like Michael Jordan, Kobe Bryant, and LeBron James continue to command record prices. If you’re looking for investment potential, a clean slab of an iconic card is still the way to go. Keep your most valuable raw cards in Ultra Pro Penny Sleeves 100 Count and then a Ultra Pro One-Touch 35pt Card Holder for display while awaiting grading.

Fanatics has also rolled out its “Fancash” program, replacing Topps’ previous rewards. It’s worth noting that ordering through the Fanatics app often gives you a 5% Fancash back (compared to 2% on the Topps website) and a lower free shipping threshold ($29 vs. $100). This certainly pushes you towards their direct channels.

Here’s a quick comparison of the purchasing experience:

Community Reactions & The Monopoly Debate

The Fanatics takeover has been a hot topic in every collector group, at every show, and across all social platforms. The opinions are as varied as the chase cards in a new set.

The dominant sentiment is apprehension about Fanatics’ near-monopoly. Many of us fear that reduced competition will stifle innovation, lead to lower product quality, and potentially higher prices without sufficient alternatives. Many collectors worry that Fanatics, a company primarily known for sports apparel, lacks the decades of card-making expertise of a Topps or Panini. The concern is real: could products start to feel more like mass-produced merchandise rather than collector-focused treasures, leading to design missteps or quality control issues?

This fuels the “Junk Wax 2.0” sentiment - the idea that we’re heading into an oversaturated market of less valuable cards due to increasing prices and higher print runs. It’s a legitimate worry for those of us who remember the original junk wax era.

However, it’s not all doom and gloom. There’s a strong sense of nostalgia and excitement for the return of Topps-branded products in basketball and football. The prospect of popular lines like Topps Chrome for these sports, after years of Panini exclusivity, has many long-time hobbyists genuinely thrilled. Some industry observers even see Fanatics’ substantial investment and direct-to-consumer model as a positive. They believe it could expand the collector base, introduce truly innovative features, and lead to higher production values and better quality control in the long run, even potentially improving the elusive goal of getting a perfectly centered card.

One growing trend is a pivot towards acquiring single cards, vintage issues, or authenticated, high-grade cards of Hall of Famers. Many collectors are moving away from ripping packs and focusing on finding clean, raw singles for potential grading. Before they go off to PSA, investment-grade cards should go into a Ultra Pro Penny Sleeves 100 Count and then a Ultra Pro Semi-Rigid Card Holders to keep them pristine.

Collector Tip: Quality Over Quantity

In this volatile market, focusing on the quality of your collection - seeking out iconic players, low-population cards, and aiming for the highest possible grades - is often a more sustainable strategy than chasing every new release. Study the pop reports, understand centering, and aim for that Gem Mint 10.

Adapting Your Collection Strategy in the Fanatics Era

Adaptation strategies for collectors include continuous research. Understanding the market, tracking player performance, and avoiding excessive hype are important considerations. A long-term perspective is essential, as the hobby has historically experienced market fluctuations and adjustments. Diversification of a collection, such as combining modern rookie cards with established vintage stars, can be beneficial.

For those high-end pulls, or even potential gem mint candidates, we recommend a good Ultra Pro One-Touch 35pt Card Holder - they just offer that extra layer of rigid protection and look fantastic on display. For thicker patch cards, the Ultra Pro One-Touch 130pt Card Holder is a must. And for getting cards ready for submission to PSA, you simply can’t go wrong with Cardboard Gold Card Saver 1. They are the industry standard for a reason, providing crucial support without damaging corners.

It’s also vital to engage with the community - share insights, learn from others, and don’t be afraid to try new strategies, like focusing on specific subsets or players you genuinely love, rather than just chasing the perceived “hot” cards.

The Future of Sports Cards: What’s Next?

The future of sports cards under Fanatics is undoubtedly dynamic and, to some extent, still being written. We’re witnessing a monumental shift, one that promises both innovation and potential pitfalls. Fanatics’ massive investment and direct control over licenses mean they have the resources to reshape the hobby in unprecedented ways. We could see groundbreaking digital integrations, enhanced authentication processes, and a truly global reach for sports cards.

However, the concerns about a monopoly are valid. Will competition truly cease to exist, leading to stagnation in design or quality? Will prices continue to climb beyond what the average collector can reasonably afford? Only time will tell.

What’s certain is that the passion of collectors will continue to drive this hobby forward. Whether you’re a seasoned veteran with shelves full of slabs or a newcomer just discovering the thrill of a fresh pack, our enthusiasm, our pursuit of that elusive chase card, and our love for the game will always be at the heart of it.

What’s your take on the Fanatics era? Whether you’re investing in iconic vintage, chasing the latest Topps Chrome rookies, or just starting your collection, having the right gear to protect and showcase your cards is essential. Explore our curated selection of top-tier sleeves, toploaders, binders, and display options to ensure your collection stands the test of time.