It looks like Alex Rodriguez isn’t resting on his laurels after a group he belongs to acquired the Minnesota Timberwolves earlier this year. The Major League Baseball legend is setting his sights on another company that’s deeply entrenched in the world of sports. It’s none other than the Panini Group.
Alex Rodriguez’s blank-check firm Slam Corp. is in talks to merge with Panini, which makes sports stickers, cards and other collectibles https://t.co/6h4ONm6bsY
— Bloomberg (@business) July 14, 2021
According to a report by Bloomberg, a special purpose acquisitions company (SPAC) called Slam, which was formed by Alex Rodriguez, is in talks with Panini to form a merger. The report added that the combined entity’s projected value will be around $3 billion.
Bloomberg added that due diligence is being practiced as of now and the necessary terms can still change. The report also stated that there’s still a chance for the deal to be not consummated.
Alex Rodriguez, Slam’s Chief Operating Officer, has been instrumental in raising more than $500 million earlier this year. This fund has been used to acquire companies that are in the media, entertainment, and sports sectors, among others.
Meanwhile, Panini Group is the parent company of Panini America, a company that is well known for manufacturing trading cards for a wide variety of sports. Some of their most popular products cater to fans of the NBA, NFL, and most recently, UFC.
This potential merger can have a lasting effect on the hobby itself. This is also a good chance for collectors to make their voices heard on what can be done to improve Panini’s performance as a card company. In this way, this possible scenario will change the hobby in a good way while adding the portfolio of Alex Rodriguez.
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