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A collective legal action initiated against Fanatics, the NFL, NBA, MLB, their corresponding player unions, and OneTeam, which operates as the commercial entity for these associations, saw all its charges rejected by a New York federal judge on Monday.
The court approved Fanatics’ application to have the legal challenge dismissed, a case involving five complainants — Robert Scaturo, Scott Bubnick, Joseph Davidov, Steven Mardakhaev, and Jonathan Madar.
The claim accused the entities of colluding to dominate the expanding collectible card market for each aforementioned sports league, thereby inflating the cost of cards for millions of buyers globally.
Moreover, it largely mirrored an antitrust proceeding launched by Panini, a rival of Fanatics in the trading card and memorabilia sector, quoting passages from it throughout.
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Individuals examine baseball cards available for purchase during the 45th National Sports Collectors Convention at Donald E. Stephens Convention Center in Rosemont, Ill., July 31, 2025. (Audrey Richardson for The Washington Post / Getty Images)
Chief U.S. District Judge Laura Taylor Swain ruled that “none of the named plaintiffs adequately allege that they have overpaid or will imminently overpay for trading cards sold by defendants.”
“We asserted from the outset that this was an unsubstantiated and fundamentally flawed lawsuit, as Fanatics was being accused of increasing prices on cards we did not even manufacture,” a Fanatics spokesperson communicated to Fox Business following Monday’s verdict. “The court concurred and determined that the plaintiffs lacked standing to bring the action. We are pleased the court has now declared the complaint legally insufficient and dismissed it.”
FANATICS INITIATES COUNTERSUIT AGAINST PANINI AMERICA AFTER ANTITRUST LAWSUIT AMIDST LATEST DISPUTE IN COLLECTIBLE CARD SECTOR
Within its determination, the court also acknowledged that, at the time the lawsuit was commenced in March 2025, Panini held the permits for NFL and NBA trading cards. Topps, which Fanatics acquired in 2022 for an estimated value of approximately $500 million, had not yet produced NBA-sanctioned trading cards until October 2025. Furthermore, the NFL permit for trading cards will not transfer to Topps until April of the current year.
“Not only did no named Plaintiff purchase such a trading card from Defendants prior to the filing of the FAC, but it was actually impossible for any consumer to do so,” Taylor Swain penned in the court’s judgment.
Tom Brady attends Fanatics and Topps’ Hobby Rip Night with Michael Rubin, Tom Brady, Kevin Hart and Travis Scott Sept. 30, 2023, in Linwood, N.J. (Dave Kotinsky/Getty Images / Getty Images)
Regarding the argument concerning price inflation for MLB cards, the court determined that the plaintiffs failed to “explain whether the difference in prices was traceable to extraneous factors, such as production costs or quality differences, or whether the difference was traceable to Defendants’ anticompetitive conduct.” The plaintiffs presented a diagram to compare costs of Topps’ licensed cards with Panini’s unlicensed merchandise.
John Radice, the plaintiffs’ legal representative, informed The Athletic that his clients are “evaluating the court’s dismissal without prejudice and contemplating all options.”
While this collective legal action was dismissed, Panini continues its own litigation against Fanatics, accusing it of anti-competitive practices and monopolization within the sports card sector. This development occurred after Fanatics secured exclusive licensing entitlements from the NBA and NFL, which were previously held by Panini. Post-April 2026, Fanatics will possess exclusive licenses for NBA, NFL, MLB, Premier League, F1, and WWE.
Bryce Miller, 10, holds a collection of sports cards he acquired from the Panini Group booth during the 45th National Sports Collectors Convention at Donald E. Stephens Convention Center in Rosemont, Ill., July 31, 2025. (Audrey Richardson for The Washington Post / Getty Images)
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Fanatics disputed Panini’s assertions and initiated a countersuit, alleging its competitor engaged in a “prolonged, unlawful, and deceptive campaign of unfair commercial practices, aggressive tactics, and wrongful conduct” in an effort to compel Fanatics to pay a substantial sum for Panini to relinquish its licenses in 2022.
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