Fanatics founder Michael Rubin is including to his portfolio of luxurious actual property, having just lately acquired a Hamptons mansion for $50 million.
Fanatics founder Michael Rubin’s Hamptons home. He paid $50 million for it. (Picture: Jewish Enterprise Information)
Positioned on East Lengthy Island, the Hamptons has lengthy been the premier summer time vacation spot for rich New Yorkers and celebrities. Rubin bought the mansion from HFZ Capital Group’s Ziel Feldman. It final bought in 2000 for $4.35 million, based on the New York Publish. Feldman made important alterations to the construction, making it an 8,000-square-foot-house with seven bedrooms and 4 bogs.
The Hampton’s home isn’t Rubin’s first dalliance with high-end New York actual property. In 2018, he shelled out $40 million-plus for a downtown Manhattan penthouse, then a file worth for that individual neighborhood.
Rubin’s Hamptons home is positioned near properties owned by Beyonce and Jay-Z, Ben Affleck and Jennifer Lopez and New England Patriots proprietor Bob Kraft.
Rubin, 50, was born exterior of Philadelphia. Fanatics is predicated in Florida. His internet price is estimated to be $3.5 billion.
Rubin Placing Hamptons Mansion to Good Use
Rubin broke in his new Hamptons digs in model, internet hosting a Fourth of July “White Social gathering” that drew a who’s who of athletes and celebrities.
Attendees to the 11-hour bash included Jay-Z, Beyoncé, retired NFL legend and Las Vegas Raiders minority proprietor Tom Brady, French soccer star Kylian Mbappé, a slew of NBA gamers and Leonardo Di Caprio.
Rubin beforehand held minority stakes within the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils , however he bought these pursuits final 12 months to keep away from potential conflicts of curiosity as he readied Fanatics to make a extra earnest transfer into the world of regulated sports activities wagering. He reportedly reaped a $300 million windfall from divesting his 10% holdings in these groups.
Fanatics is valued at $31 billion in non-public markets. Like Rubin’s events, Fanatics’ investor checklist is filled with well-known names.
The corporate counts the 4 main US sports activities leagues — Main League Baseball (MLB), the NBA, NFL, and the NHL — in addition to Main League Soccer (MLS) amongst its traders. Different traders embrace Silver Lake, SoftBank, BlackRock, Constancy, and MSD Companions — an funding car managed by Dell founder Michael Dell.
Rubin Enjoyable After Busy June for Fanatics
Maybe the White Social gathering on the Hamptons mansion was Rubin’s method of blowing off some steam with well-known associates following an energetic June for Fanatics.
His firm finally emerged victorious for PointsBet’s (OTC: PBTHF) US operations, however solely after it upped its bid to $225 million in money.
The suitor was compelled to do this after rival DraftKings (NASDAQ: DKNG) entered the fray with a $195 million supply that far exceeded Fanatics’ preliminary proposal.
There was hypothesis that as a result of long-running unhealthy blood between Rubin and DraftKings co-founder and CEO Jason Robins, the latter bought concerned within the PointsBet US sale course of merely to be a ache to Fanatics.
