Michael Rubin has been a 10% minority owner in Harris-Blitzer Sports Entertainment for the past 11 years. Despite the minority stake, he has served as the more public figure for the team for the past few seasons. Rubin is constantly seen sitting courtside oftentimes with a notable celebrity alongside him. His vocal presence has always outweighed his actual power within the organization, but that should not take away from the positive impact he has made.
Fanatics CEO Michael Rubin – a prominent minority owner of the Philadelphia 76ers — is selling his stake in the Harris-Blitzer Sports Entertainment company that owns the Sixers and New Jersey Devils, team officials told ESPN on Wednesday.
— Adrian Wojnarowski (@wojespn) June 22, 2022
It has been clear that Michael Rubin has enjoyed his time with Haris-Blitzer. This is purely a business decision for the billionaire. Rubin elected to divest his stake due to looming conflicts with the expansion of his Fanatics business into individual player partnerships and sports betting opportunities. It is clear there are no hard feelings Rubin says he will be transitioning from part-owner to full-time fan.
What Does Michael Rubin Selling Mean for the Sixers?
While it is normally a non-story for a minority owner to sell his share of the team, Michael Rubin’s status makes him a unique storyline. The Harris-Blitzer Sports Entertainment founder, Josh Harris, put out a statement that he still will be welcomed with open arms by the organization. As Harris put it, “Michael will always be a member of our HBSE and Sixers family, continue to be a presence courtside and a key partner in our collective commitment to be a force for good in Philadelphia.”
Thank you, @sixers fans
pic.twitter.com/46YX0Zoahm
— Michael Rubin (@michaelrubin) June 22, 2022
Michael Rubin is the rare blend of businessman that is loaded with connections from both a player and business perspective. Rubin will not be free from the constraints of the NBA’s collective-bargaining agreement which will open the door for future business moves for the Philly native. This is an aspect that could help the Sixers more than ever. Rubin can now enter outside financial partnerships that were previously disallowed while he was a part-owner.
Michael Rubin proved to be vital in the landing of James Harden last season. Harden and Rubin have an extensive off-court relationship that includes Harden spending time at Rubin’s house on a regular basis. Due to his status as a part-owner of the Sixers, it was illegal for the duo to enter any type of business deal in the past. Rubin will now be able to target any business maneuver he seems fit and a potential deal with James Harden could make him more willing to take a more cap-friendly deal with the Sixers. Rubin now holds the legality to negotiate some sort of deal with Harden or any other player he sees fit.
While it is purely speculation at this point, other teams and many media members around the NBA are speculating this could become a competitive advantage for the Sixers. For the moment, this is purely a business transaction for the former Sixers figurehead. However, this is certainly a storyline to watch.
Michael Rubin has been a terrific figurehead for Harris-Blitzer Sports Entertainment during his 11 years with the organization. He has been present and active at nearly all home games and made connections for a variety of charity events for the organization. His time with the Sixers franchise should be remembered fondly and it is entirely possible his role isn’t officially over.
Photo by Kyle Ross/Icon Sportswire
