Fanatics 2025 Card Licensing Impact

Published: December 22, 2025

⏱️ 13 min read

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Table of Contents

The Biggest Industry Shift in 40 Years: Fanatics Takes Control

In what represents the most significant restructuring of the sports card industry since the 1980s, Fanatics has secured exclusive licensing agreements with the NFL, NBA, MLB, and NFLPA to produce trading cards. This transition, which begins rolling out in 2025-2026, marks the end of multi-decade partnerships between sports leagues and traditional card manufacturers Panini, Topps, and Upper Deck.

For collectors, this seismic shift raises critical questions: What happens to existing card values? Will product quality improve or decline? Should collecting strategies change? And perhaps most importantly—what does this mean for the future of the hobby?

This comprehensive guide breaks down everything collectors need to know about the Fanatics takeover and how to position portfolios for success in this new era.

Key Takeaways:

  • Fanatics secured exclusive licensing for NFL, NBA, and MLB trading cards starting 2025-2026, ending multi-decade partnerships with Panini, Topps, and Upper Deck.
  • Final-year Panini products (2025-26 Prizm Basketball, 2025 Prizm Football) may appreciate 20-40% as “last ever” collectibles based on historical precedent.
  • Wait 12-18 months before committing heavily to Fanatics products to assess quality control, print runs, and market reception after first-year issues.
  • Panini cards from 2020-2025 will likely maintain value as historical artifacts, but may not appreciate as quickly as if Panini had continued production.
  • Diversify into vintage cards and international products as hedge against Fanatics uncertainty, and monitor quality through grading population reports before major investments.

Understanding the Fanatics Transition Timeline

Phase 1: MLB and MLBPA (2025)

  • Fanatics launches: 2025 season
  • Topps exits: After 2024 products
  • Affected brands: Topps Chrome, Bowman, Topps Update, Heritage, Allen & Ginter
  • Status: Topps retained limited license for existing sets but not exclusive

Phase 2: NBA and NBPA (2026)

  • Fanatics launches: 2026-27 season
  • Panini exits: After 2025-26 products
  • Affected brands: Prizm, Optic, Select, Contenders, National Treasures
  • Status: Panini produces final licensed products through 2025-26 season

Phase 3: NFL and NFLPA (2026)

  • Fanatics launches: 2026 season
  • Panini exits: After 2025 products
  • Affected brands: Prizm, Optic, Select, Donruss, Contenders
  • Status: Panini’s final NFL products release 2025-2026

Phase 4: NHL (Unclear)

  • Upper Deck status: Unclear if Fanatics pursues NHL exclusivity
  • Current partnership: Upper Deck’s NHL agreement extends through 2026
  • Speculation: NHL may be lower priority for Fanatics given smaller market

What Fanatics Brings to the Table

Corporate Structure and Resources

Fanatics isn’t starting from scratch—they’ve systematically acquired the infrastructure needed to dominate:

Topps Acquisition (2022)

  • Purchase price: Approximately $500 million (exact terms not disclosed)
  • Key assets acquired: Brand name, manufacturing facilities, design teams
  • Strategic value: Instant credibility with baseball collectors

Manufacturing Capabilities

  • Existing facilities: Former Topps production plants
  • New investments: $100+ million in equipment upgrades announced
  • Quality control: Hiring experienced production managers from Panini and Upper Deck

Distribution Network

  • Retail relationships: Existing partnerships with Target, Walmart, major chains
  • Hobby shops: Direct distribution agreements with 3,000+ local card shops
  • Online platform: Fanatics.com integration for direct-to-consumer sales

Technology and Innovation Plans

Fanatics has publicly stated ambitions to “modernize” the hobby:

Digital Integration

  • Blockchain authentication: Every card with verifiable digital twin
  • App integration: Fanatics app for collection tracking and pack opening
  • Live streaming: In-house platform for card breaks and content

Production Quality Promises

  • Higher card stock quality: Thicker, more durable base cards
  • Improved centering: Better quality control during cutting/printing
  • Faster release schedules: Products shipping within weeks of season start, not months

Direct-to-Consumer Model

  • Subscription boxes: Monthly guaranteed hits delivered to collectors
  • Pre-order guarantees: No more retail sellouts and allocation issues
  • Market pricing: Dynamic pricing based on demand (controversial)

Impact on Existing Card Values

Panini Football and Basketball (2020-2025 Products)

Bull Case for Panini Values:

  • Last of an era: Final Prizm, Optic, Select products become collectible as historical artifacts
  • Brand nostalgia: Collectors who grew up with Panini may prefer these designs
  • Established market: Liquid secondary market for Panini products

Bear Case for Panini Values:

  • Obsolete brand: Fanatics marketing may position Panini as “old” and “outdated”
  • Competition from new products: 2026+ rookies only available in Fanatics products
  • Collector shift: Younger collectors may exclusively prefer Fanatics aesthetics

Most Likely Outcome: Panini cards from 2020-2025 hold value as established collectibles, but don’t appreciate as quickly as if Panini had continued. Think of it like classic Coca-Cola vs. New Coke—the original retains value even if replaced.

Topps Baseball (1950-2024)

Bull Case for Topps Values:

  • 74-year legacy: Topps baseball cards are American cultural icons
  • Vintage market unaffected: Pre-2000 Topps continues to appreciate
  • Modern Topps staples: Chrome, Bowman maintain collector preference

Bear Case for Topps Values:

  • Fanatics owns Topps brand: Can leverage name recognition for new products
  • Design continuity: If Fanatics continues Topps aesthetic, less distinction
  • Bowman brand dilution: If Fanatics mismanages Bowman, harms entire brand

Most Likely Outcome: Topps vintage and modern (pre-2025) remain strong. Fanatics’ use of Topps branding determines whether collectors view 2025+ as “real” Topps or not.

Upper Deck (If Exiting)

Upper Deck’s situation depends on whether they retain NHL exclusivity:

Scenario 1: Retain NHL

  • Upper Deck becomes hockey specialist
  • NHL cards potentially increase in value due to exclusive focus
  • Strong collector loyalty in hockey community

Scenario 2: Exit Market

  • Final Upper Deck hockey products become highly collectible
  • Similar to their exit from NBA in 2009 (values increased post-exit)
  • Company may focus on memorabilia and non-licensed products

Strategic Adjustments for Collectors

Short-Term Actions (2025)

For Baseball Collectors:

Buy final 2024 Topps flagship products before transition:

  • 2024 Topps Chrome: Last traditional Topps Chrome before Fanatics takeover
  • 2024 Bowman Chrome: Final independent Bowman product
  • 2024 Topps Update: Last rookie cards with pure Topps branding

For Basketball Collectors:

Load up on 2025-26 Panini products (final year):

  • 2025-26 Prizm: Last Panini Prizm ever, may become highly sought
  • 2025-26 National Treasures: Final ultra-premium Panini product
  • 2025-26 Contenders: Last Contenders Rookie Ticket Autos

For Football Collectors:

Target 2025 Panini products (final NFL products):

  • 2025 Prizm: Final Panini Prizm football
  • 2025 Optic: Last Optic football before Fanatics
  • 2025 Select: Final Select football with die-cut designs

Rationale: Final-year products from exiting brands historically appreciate 20-40% over subsequent years as collectors hoard for nostalgia.

Medium-Term Strategy (2026-2028)

Wait-and-See Approach:

Don’t rush into Fanatics products initially:

  • Year 1 issues: Expect quality control problems, design missteps, collector backlash
  • Price volatility: Initial products may be overpriced due to hype
  • Market correction: Give 12-18 months for market to price Fanatics rookies fairly

Comparative Buying:

Monitor Panini vs. Fanatics rookie card markets:

  • 2025 rookies: Available in both Panini (final year) and Fanatics (first year)
  • Price comparison: Buy whichever offers better value for equivalent players/parallels
  • Design preference: Personal taste matters—buy what you enjoy collecting

Diversification:

Increase allocation to vintage and non-sports cards:

  • Hedge against Fanatics uncertainty: Vintage unaffected by manufacturer changes
  • Pokemon, Magic, other TCGs: Alternative markets if Fanatics disappoints
  • International products: European soccer cards avoid US license drama

Long-Term Positioning (2028+)

If Fanatics Succeeds:

Double down on Fanatics flagship products:

  • Fanatics Prizm equivalent: Will likely become new industry standard
  • Fanatics Chrome: If they resurrect Topps Chrome branding, may dominate
  • Digital-physical hybrids: Could be revolutionary if executed well

If Fanatics Struggles:

Rotate back into pre-Fanatics era cards:

  • 2020-2025 Panini: “Golden era” of Panini before exit
  • 2015-2024 Topps: Classic Topps products before transition
  • Vintage across all sports: Safe haven regardless of modern market

Potential Pitfalls and Controversies

Dynamic Pricing Concerns

Fanatics has hinted at “market-based pricing” for products, meaning:

  • Hot rookies = higher box prices: If Caleb Williams is dominating, Fanatics could charge $500/box vs. normal $300
  • Underperforming classes = discounts: Conversely, weak rookie years might see fire sales
  • Collector backlash risk: Hobby thrives on consistent pricing; changes could alienate base

Collector Strategy: Buy on secondary market rather than direct from Fanatics if pricing becomes exploitative.

Quality Control Track Record

Fanatics’ Topps acquisition means inheriting Topps’ recent quality issues:

  • Centering problems: 2022-2024 Topps Chrome had widespread centering defects
  • Print lines: Refractors plagued by visible print defects
  • Damaged cards: Shipping and packaging failures

Will Fanatics fix these issues or make them worse?

  • Optimistic view: New investment and focus will improve manufacturing
  • Pessimistic view: Aggressive production timelines will worsen quality control

Collector Strategy: Wait for grading company population reports to assess Fanatics quality before committing large sums.

Monopoly Concerns

Fanatics controlling NFL, NBA, MLB creates zero competition:

  • No price discipline: Without Panini or Topps to compete, Fanatics can raise prices
  • No design innovation: Monopolies often become complacent
  • Collector leverage lost: Can’t vote with wallets by choosing competitor

Historical Precedent: Upper Deck’s NBA monopoly (1990s) led to overproduction and junk wax era 2.0.

Collector Strategy: Support unlicensed alternatives (Leaf, vintage, international products) to maintain market diversity.

International and Unlicensed Alternatives

Leaf Trading Cards

Leaf produces unlicensed cards without logos but featuring players:

  • Metal Universe: Premium unlicensed football and baseball
  • Prismatic: Basketball alternative to Prizm
  • Advantage: Unaffected by Fanatics takeover, could gain market share

Collector Opportunity: If Fanatics stumbles, Leaf could become preferred alternative for some collectors.

International Soccer Cards

European football cards operate independently of US sports licensing:

  • Panini still produces: UEFA Champions League, international soccer
  • Topps UEFA: Topps Chrome and Finest remain available
  • Growing US market: Soccer collecting expanding in America

Collector Strategy: Diversify into soccer to avoid Fanatics risk entirely.

Vintage and Pre-War Cards

Market entirely unaffected by modern licensing changes:

  • T206, T205, E90s: Tobacco cards from 1900s-1910s
  • 1950s-1980s Topps: Classic baseball cards
  • 1980s-1990s basketball: Jordan, Bird, Magic era

Collector Strategy: Allocate 30-40% of budget to vintage as hedge against modern market disruption.

Opportunities Created by the Transition

Arbitrage Plays

Price dislocations during transition create profit opportunities:

Example 1: Parallel Panini Rookies

  • Scenario: 2025 NFL Draft features elite QB (e.g., Arch Manning)
  • Panini produces: Final Prizm with Manning rookie
  • Fanatics produces: First product with Manning rookie
  • Opportunity: Buy whichever is underpriced relative to the other

Example 2: Player Moves Between Sports

  • Scenario: Athlete appears in final Topps baseball AND first Fanatics baseball
  • Opportunity: Collector confusion about which is “true” rookie creates pricing inefficiency

Flipping Final-Year Products

Speculative play on final-year Panini products:

Strategy:

  • Buy: Sealed hobby boxes of 2025 Prizm football, 2025-26 Prizm basketball
  • Hold: 3-5 years as nostalgia develops
  • Sell: To collectors seeking “last Panini” products

Historical Precedent: Upper Deck’s final NBA products (2008-09 Exquisite) now command 50-100% premiums on sealed boxes.

Risk: Fanatics products may be so good that Panini nostalgia never materializes.

Content Creation Opportunities

Sports card content creators can capitalize on transition:

  • Comparison videos: Fanatics vs. Panini side-by-side reviews
  • Breaks: “Final Panini” and “First Fanatics” products generate high viewership
  • Historical retrospectives: Content about Panini’s legacy could go viral

If you create content: Lean into the transition story for engagement and growth.

Looking to expand your sports card knowledge? Check out these related guides:

Frequently Asked Questions

Will my Panini cards lose value when Fanatics takes over?

Panini cards from 2020-2025 will likely maintain value as established collectibles, especially elite rookies and star player cards. Think of them as historical artifacts marking the “Panini era” of basketball and football cards. High-grade copies and low-numbered parallels of star players should hold strong, while mid-tier commons may see softer demand as collectors shift focus to new Fanatics releases.

Should I buy final-year Panini products as investments?

Final-year Panini products have investment potential based on historical precedent. Upper Deck’s final NBA products from 2008-09 now command 50-100% premiums on sealed boxes. The key is focusing on flagship products like 2025 Prizm Football and 2025-26 Prizm Basketball, particularly hobby boxes and high-end products that will appreciate as “last ever” collectibles.

When should I start buying Fanatics products?

Most experts recommend waiting 12-18 months after Fanatics’ initial releases before committing heavily. First-year products often have quality control issues and inflated prices due to hype. Use the first year to evaluate Fanatics’ production quality, print runs, and market reception before making significant investments.

What happens to Topps baseball cards after the Fanatics takeover?

Topps baseball cards from 1950-2024 retain their value and historical significance. Since Fanatics acquired the Topps brand and will continue producing baseball cards under the Topps name, there’s continuity rather than disruption. Vintage Topps and modern Topps Chrome products should remain strong, especially if Fanatics maintains quality and respects the brand’s heritage.

Conclusion: Embracing Change While Hedging Risk

The Fanatics takeover is undeniably the biggest story in sports cards since the 2020-2022 boom. It will reshape collecting habits, product preferences, and market dynamics in ways we can’t fully predict. But change also creates opportunity for disciplined collectors who adapt strategies without panicking.

Core Principles for Navigating Fanatics Era:

  1. Buy final-year Panini/Topps products for potential nostalgia premium. Consider flagship rookies like Cam Ward or Cooper Flagg in these final releases.
  2. Wait 12-18 months before committing heavily to Fanatics products
  3. Diversify into vintage as hedge against modern market disruption. Learn about building value in your sports card collection for long-term strategies.
  4. Monitor quality control through population reports and community feedback. Stay informed about grading sports trading cards to assess Fanatics quality.
  5. Stay flexible and adjust strategy as Fanatics’ approach becomes clear. Understanding digital vs. physical sports cards evolution provides additional flexibility.

The collectors who thrive in this new era will be those who view the Fanatics takeover not as a threat, but as a reset that creates both risks to avoid and opportunities to exploit. Stay informed, stay patient, and most importantly—stay collecting.

The hobby will survive this transition. It’s survived everything else over 150 years. Adapt, and you’ll not only survive but prosper.