Sports trading-card company Panini America on Thursday sued rival platform Fanatics in U.S. court, accusing the upstart of trying to unlawfully dominate the market through anticompetitive business practices including exclusive long-term deals with professional sports leagues.
in Tampa, Florida, federal court that Fanatics entered the trading-card market in 2021 with no "knowledge and expertise" and took steps to box out competitors.
Panini has an exclusive license with the NBA through September 2025 and, among others, an exclusive license with the NFL through early 2026. "Because of Fanatics' anticompetitive conduct, the major U.S. professional sports leagues trading cards market will be entirely controlled by a single firm for decades," Panini's lawsuit alleged.at more than $31 billion last year, after raising $700 million in a new financing round led by private equity firm Clearlake Capital, Reuters reported in December.
Fanatics, represented by lawyers from Latham & Watkins, said "Panini's meritless allegations won't distract us or slow us down, and we will vigorously defend the lawsuit."
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